KUALA LUMPUR (July 25): Prime Minister Tan Sri Muhyiddin Yassin did not make an announcement on Prihatin Special Grant (GKP) 5.0 as reported by Bernama, following a media conference by the premier yesterday.
In the media conference, the prime minister only mentioned that the allocations for the grant totalled RM6.1 billion through GKP 1.0, 2.0, 3.0, 4.0 and GKP Tambahan for the purpose of lightening the financial burden of micro, small and medium enterprises including hawkers, night market traders, and others.
SMEs comprise 98% of businesses in Malaysia and contribute almost 40% to the gross domestic product.
Since March of 2020, the government has spent over RM15 billion to help 330,000 employers and sustain more than 2.7 million jobs so far.
For SMEs, over RM20 billion in the form of easy loans have been allocated through Bank Negara Malaysia’s SME loan scheme and the government’s micro credit loan scheme.
The GKP is one of the various initiatives by the government to ensure business continuity, especially for SMEs affected by the movement restrictions.
Source: https://www.theedgemarkets.com/article/pm-did-not-announce-gkp-50-bernama-clarifies