ONE-OFF cash aid totalling RM10 billion will be given to M40 and B40 households to cope with the Covid-19 pandemic under a RM250 billion economic stimulus plan.

The government for the first time is giving cash injections to the M40 income group, Prime Minister Muhyiddin Yassin said when announcing the plan in a live telecast this afternoon.

The cash handouts or Bantuan Prihatin Nasional is categorised according to income bracket for households and unmarried individuals.

Households earning RM4,000 a month and below will be eligible to receive RM1,600 each. This will benefit four million households.

The first payment of RM1,000 will be disbursed in April and RM600 in May.

Meanwhile, RM1,000 each will be given to 1.1 million households earning between RM4,000 and RM8,000 a month. Handout of RM500 each will be made in April and May.

Some three million unmarried individuals aged 21 and above, earning RM2,000 a month or less will get RM800 each.

The money will be paid in two tranches of RM500 in April and RM300 in May.

Unmarried individuals aged 21 and above earning between RM2,000 and RM4,000 will receive RM500. Payouts of RM250 each will be made in April and May.

Muhyiddin added that the Bantuan Sara Hidup cash aid scheme will be paid in July with an allocation of RM3.2 billion.

The one-off cash aid is also available for university students at public and private institutions, as well as at polytechnics, matriculation college and community colleges.

Each student will receive RM200 in May under a total allocation of RM270 million.

Senior citizens and children in welfare homes, disabled persons, the homeless and Orang Asli communities, will be assisted through the government’s collaboration with civil society groups and social entrepreneurs to channel food aid, personal hygiene items and shelter where needed, under an allocation of RM25 million.

Muhyiddin also said those who have contributed to private retirement schemes will be allowed to withdraw up to RM1,500 between April and December without facing any tax penalties. – March 27, 2020.