KUALA LUMPUR (June 1): The one-month extension of the Wage Subsidy Programme to the end of July will apply to companies from all sectors, said Minister of Finance Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He said the government is providing another RM1.5 billion under the programme to subsidise up to 500 employees per company, benefitting some 2.5 million employees and 200,000 employers.
“This brings the total allocation provided by the government for the Wage Subsidy Programme [since MCO 1.0] to above RM20 billion,” he said at a virtual press conference today.
Tengku Zafrul said employers would also be exempted from Human Resource Development Corp levy payment for June, involving a total sum of RM70 million. The latest exemption was provided for businesses in the tourism and retail sectors for the January to June period.
The two initiatives are part of Putrajaya’s RM40 billion Pemerkasa+ stimulus package that was announced last night in conjunction with the 14-day total lockdown dubbed MCO 3.0, which only allows essential services to operate amid elevated Covid-19 daily and active cases.
Tengku Zafrul also shared more details on the impact of other initiatives on the government.
This includes an estimated RM1.18 billion for the six-month extension of passenger vehicles sales tax exemption, and another RM280 million from a similar extension period for the stamp duty levy under the Home Ownership Campaign until Dec 31, 2021.
The minister also clarified the eligibility criteria for the three-month loan moratorium or repayment assistance provided by the banking sector, estimated at RM30 billion.
For micro SMEs, B40 groups and SMEs that operate in locked-down sectors, the banks will provide either a three-month moratorium from June onwards, or a 50% reduction in monthly repayment across six months.
Meanwhile, proportionate monthly repayment adjustment is also available for any individual who experienced income reduction — which takes into account salary, allowance, commission, and household income.
