KUALA LUMPUR (Oct 11): An additional RM45 billion is needed under the Covid-19 Fund (KWC-19), as the Ministry of Finance has proposed to increase the expenditure under KWC-19 from RM65 billion to RM110 billion in Parliament on Monday.
The additional funds will be used as follows:
- RM12.7 billion to cover additional allocations of the Wage Subsidy Program from RM18.3 billion to RM31 billion through the PEMERKASA stimulus package, PEMERKASA Plus, and PEMULIH
- RM15.8 billion to cover additional allocations of Bantuan Prihatin Nasional from RM25.2 billion to RM41 billion, taking into account the approval of the appeal as well as increased grants under PEMERKASA and PEMERKASA Plus
- RM2 billion to increase funding for small projects for small entrepreneurs in classes G1 to G4 from RM4 billion to RM6 billion in line with the government’s efforts to increase economic activity while boosting the national economy
- RM3.6 billion for the additional allocation of the PRIHATIN grant to small and medium entrepreneurs (SMEs) from RM2.4 billion to RM6 billion
- RM1 billion to increase the maximum amount for microcredit under Bank Simpanan Nasional and TEKUN Nasional as well as changing of name to Micro Credit Loan amounting to RM2 billion.
- RM4 billion to increase the allocation for the Health Ministry for Covid-19 related expenditure from RM5 billion to RM9 billion.
- RM5.9 billion to increase social assistance support for the vulnerable group from RM110 million to RM6.01 billion.
For more details, please read: Govt tables bill to raise debt limit
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Edited BySurin Murugiah
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