PETALING JAYA: RM500 each will be deposited into the accounts of one million micro SMEs from Monday (July 12), says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He said in a statement this was the promised additional RM500 financial assistance for micro SMEs under the Pemerkasa Plus assistance programme.
“This additional financial assistance of RM500 will be credited directly to registered bank accounts in the Prihatin Special Grant 3.0 system,” he said.
He added that the government has given its commitment to assist businesses, especially micro SMEs, facing cashflow troubles.
The Prihatin Special Grant 3.0 system had allocated RM1.5bil or RM1,500 per eligible micro SME.
Tengku Zafrul said RM1,000 each was handed out to eligible micro SMEs in June.
“Under the Pemulih package announced on June 28, under Prihatin Special Grant 4.0, RM500 each will also be channelled to existing recipients and new recipients from September.
“For those micro SMEs which have not received any Prihatin financial assistance, registration will be open from July 15 to 31,” said Tengku Zafrul.
“Besides GKP, there are many more initiatives for micro SMEs that can be used as a preparation for long-term planning of business recovery.
"This includes easy loan schemes amounting RM2.9bil through Bank Simpanan Nasional, Agrobank, Mara, SME Corp, Malaysian Islamic Economic Development Foundation (Yapeim) and Tekun,” he added.
He also pointed out that there are allocations totalling RM8.6bil for easy loans under Bank Negara Malaysia.
“This includes the additional funds of RM2bil for Pemerkasa Plus and RM2bil more for Pemulih packages,” he said.
Since the beginning of the pandemic last year, the government has announced various economic packages to help businesses to recover, especially the SMEs and micro SMEs, which form the majority of businesses in the Malaysian economy.