Malaysian Government launches PEMERKASA Plus relief package
29 June 2021
On 31 May 2021, the Prime Minister of Malaysia Tan Sri Dato’ Haji Muhyiddin bin Haji Mohd Yassin, through the Prime Minister’s Office, announced a relief package worth RM40 billion known as Program Strategik Memperkasa Rakyat dan Ekonomi Tambahan (“PEMERKASA Plus”). PEMERKASA Plus is the latest initiative launched by the Malaysian Government in light of the potential challenges of the total lockdown from 1 to 14 June 2021 on the national economy and the rakyat.
PEMERKASA Plus will be implemented based on three main objectives, namely:
- Increasing public healthcare capacity;
- Continuing the prihatin rakyat (welfare of the rakyat) agenda; and
- Supporting business continuity.
The reliefs under PEMERKASA Plus include:
- Allocating an additional RM1 billion to increase and strengthen public healthcare capacity;
- Allocating an additional RM2.1 billion to the Bantuan Prihatin Rakyat (BPR) financial aid scheme;
- Granting eligible affected persons an option to obtain either an automatic three-month loan moratorium or a six-month 50% discount on monthly loan repayments;
- Amending the Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (Covid-19) Act 2020 to extend the protection relating to the inability of parties to perform contractual obligations to 31 December 2021; and
- Extending the stamp duty exemption under the Home Ownership Campaign until 31 December 2021.