Malaysian Prime Minister Muhyiddin Yassin Monday unveiled a new economic stimulus package worth RM150 billion in an attempt to mitigate the impact of a continued total lockdown due to the pandemic. He said the package aims to allow people to cope with the financial difficulties arising from COVID-19.
Under the package, RM4.6 billion will be set aside under the special COVID-19 assistance scheme (BKC) to help 11 million people. Another RM500 million would be set aside for those who have lost income as a result of the pandemic. RM125 million has been set aside through the Human Resource Development Corporation (HRD Corp) for the Place and Train initiative under the Janapreneur Program. The program is opened to youths who have completed schooling and graduates for skills training with the guarantee of employment upon completion of the training. Muhyiddin said the initiative is expected to benefit about 30,000 youths.
Muhyiddin also said that the government is ready to consider allowing companies to resume full operations if all the workers have been fully vaccinated. He said the Ministry of International Trade and Industry is coordinating the Public-Private Partnership Covid-19 Industry Immunisation Programme (PIKAS) as an incentive to companies and industries to use their premises as Vaccination Centres (PPVs) and conduct immunisation programmes for employees.
Meanwhile, employers registered under the Human Resources Development Corporation could use up to 10 per cent of their remaining current levy for the cost of management and purchase of Covid-19 vaccines. The government has also agreed to provide tax deductions on expenses encompassing the cost of equipment and services in setting up the PPVs by employers, he said.
