PM announces RM250 billion economic rescue plan

(FMT) – Prime Minister Muhyiddin Yassin today announced an economic stimulus package of RM250 billion to cushion the impact of the Covid-19 outbreak, more than 10 times the RM20 billion allocated by his predecessor Dr Mahathir Mohamad last month.

This comprises RM128 billion for the people’s welfare, RM100 billion for businesses and SMEs, and RM2 billion to strengthen the economy, aside from the RM20 billion announced in the previous package.

“As I have said, no one will be left behind,” he said in a live telecast, adding that the government’s focus is to curb the spread of Covid-19.


He said RM50 million would be allocated to the health ministry while assistance would be sought from private hospitals.

He also said the government would allocate RM400 to RM600 in special allowances for doctors, nurses and health workers on the front line from April 1 until the crisis is resolved.

He also said the special allowance of RM200 for army and police personnel as well as customs and Rela staff involved on the front line would continue.

Others include:

  • RM250 per month for customs, immigration and Rela personnel involved in the movement control order (MCO) beginning April 1.
  • One-off payments totalling RM10 billion for the M40 group, farmers, and small businesses in the private sector.
  • RM1,600 for four million households earning RM4,000 and below.
  • RM1,000 for 1.1 million households earning RM4,000 to RM8,000, with RM500 paid in April and the balance in May.
  • RM500 for 4,000 bachelors aged 21 with an income of RM2,000 to RM4,000 in April and May.
  • One-off payment of RM200 in May for students at higher education institutions.
  • RM25 million for food and shelter for senior citizens, OKU and Orang Asli, in cooperation with NGOs.
  • Six-month moratorium on PTPTN and PTPK payments.
  • Six-month rent exemption for PPR residents.
  • Patients under MySalam can claim RM50 per day for 14 days. This can also apply to those who are quarantined because of Covid-19.
  • B40 group in cities exempted from paying rent for six months. Total cost of RM3 million to be borne by government.