PUTRAJAYA has started implementing six out of the 10 initiatives worth almost RM180 billion under the Prihatin economic stimulus package, said Finance Minister Tengku Zafrul Tengku Abdul Aziz.

“Of the 10 measures, six of them make up RM180 billion or almost 69% of the entire Prihatin package have started,” he said in broadcast on Facebook today.

The six measures are the moratorium on loans at banking institutions (RM100 billion), withdrawals from the Employees Provident Fund’s (EPF) i-Lestari account (RM40 billion), wage subsidy by Socso (RM13.8 billion), reduction of employees’ EPF contributions (RM10 billion), Bantuan Prihatin Nasional (RM10 billion) and Bank Negara Malaysia’s Special Relief Fund (RM5 billion).

Tengku Zafrul said the package is the largest among developing countries and is equivalent to 18% of the country’s gross domestic product.

He said four more measures worth RM66.1 billion will be rolled out May 1 onwards.

These include loan guarantee by Danajamin (RM50 billion), consultation service for employers by EPF (RM10 billion), small scale projects for contractors (RM4 billion) and special Prihatin grant for micro SMEs (RM2.1 billion).

He added that RM8.6 billion from an additional allocation under the Prihatin package has been channelled to the relevant ministries and agencies for implementation.

“There are more to be done.

“Despite the movement control order, the government will ensure that its machinery continues to function to ensure the continuation of the measures under the Prihatin package, especially those contributing to the rakyat’s welfare and spurs economic activity,” he said.

Tengku Zafrul advised those who have yet to apply for the aid, to do so.

“God willing, we will try our best to consider all applications.”

He added that the Finance Ministry will conduct weekly briefings to update the implementation of the Prihatin package. – April 14, 2020.