PENJANA worth RM35 billion to help regenerate Malaysia’s economy – PM Muhyiddin

muhhyddin yassin

PUTRAJAYA: The government today launched the “Regenerate the National Economic Plan” or PENJANA worth RM35 billion with the three core principles namely empowering the people, propel businesses and stimulate the economy.

Prime Minister, Tan Sri Muhyuddin Yassin said, 40 initiatives have been set under PENJANA and from that RM10 billion is in the form of direct physical injection from the government.

Muhyiddin said, to address the increasing number of people unemployed since the enforcement of the Movement Control Order (MCO) on March 18, the government has provided RM9 billion that will benefit 3 million workforces through various incentives.

“To help companies during the reopening and transition of economic activities, the government is extending the pay subsidy to another three months with a salary of RM600 per month to every worker for a maximum of 200 workers for every company.

“For the tourism industry workers that have been asked to leave without pay, the employers could request for salary subsidy with the workers receiving directly the subsidy payment,” said Muhyiddin in his special deliberation on PENJANA that was live telecasted on TV1 today.

Muhyiddin added, under the Recruitment of Workers’ Incentive worth RM1.5 billion, the government is providing a financial incentive to companies to employ the unemployed aged 40 and below with the salary of RM800 per month and the unemployed aged 40 and above and the handicapped for RM1,000 per month.

To lessen the cost of public transport incurred by workers, the government is introducing MY30 Programme where public transport users will have to pay RM30 per month for unlimited travelling under the purview of Prasarana in Klang Valley effective from June 15 until end of the year 2020.

Muhyiddin said, the government is also providing loans amounting RM700 million to enable more small and medium enterprises (SMEs) to buy and use the digitalisation services.

This includes RM100 million for the SME Digital Matching Grant with the cooperation of telecommunication companies; RM500 million and below for SMEs Technology Transformation Fund as easy loans and RM100 million Smart Automation Fund for every company that qualifies to receive the grant until RM1 million.

Muhyiddin added, for micro industries, the government will set the Mikro PENJANA Finance with the cooperation of Bank Simpanan Nasional and TEKUN Nasional for financing worth RM400 million from which RM50 million will be specially allocated for women enterprisers.

“In the effort to empower the involvement of Bumiputera and the continuation of their activities in the business sectors, RM200 million is allocated via the Perbadanan Usahawan Nasional Berhad  (PUNB).

“Besides that RM300 million will be channelled to MARA where Bumiputera enterprises including the skill institutes that have been financially affected in the working capital,” said Muhyiddin. –Malaysia World News

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