New Programme Introduced to Help Those Impacted by COVID-19
A New Wage Subsidy Programme 2.0 has been announced by the Malaysia government intended to help those impacted by COVID-19.
The New Wage Subsidy Programme 2.0 falls under the Kerangka Inisiatif Tambahan Prihatin (KitaPrihatin) Framework. The programme is categorising people into two types of income groups. These groups are known as the B40 and M40.
Under the New Wage Subsidy Programme 2.0, these initiatives will be implemented:
- Employee wages will be supplemented via subsidies for businesses with a drop in their revenue by 30%. This is applicable for the period of the Movement Control Order.
- The rate of the subsidies will be RM600 monthly per employee. It will be capped at 200 employees. The wage subsidies will last for 3 months.
Applications will commence from 1 October to 31 December 2020. Companies registered with SOCSO (Social Security Organisation) can still apply if they were registered from 1 April to 31 August 2020.
Applications for the Geran Khas Prihatin (GKP) will also be reopened beginning 1 October. It will close on 31 October 2020. Micro-businesses registered with the SSM (Suruhanjaya Syarikat Malaysia) can apply. The business that has a license from local authorities as at 31 August can also apply. GKP payments will commence from 25 November 2020.