PM announces reopening of GKP applications with RM600m allocation
The government will reopen applications for the Prihatin Special Grant (GKP) from October 1 to 31, 2020, with an allocation of about RM600 million. Prime Minister Tan Sri Muhyiddin Yassin said the reopening of the initiative for new applications was expected to benefit more than 200,000 micro businesses.
“During my visits and interaction with entrepreneurs at the grassroots level, I received complaints that some entrepreneurs did not receive the assistance as they were not able to apply within the stipulated time. “There were also those who did not meet the requirement of having a registered business prior to January 1, 2020,” he said.
In addition, the government has also agreed to open GKP applications to micro-traders registered or holding a business licence with the Companies Commission of Malaysia (SSM) or local authorities until August 31, 2020. He said payments were targeted to be made starting November 25. Tan Sri Muhyiddin said under the Additional Prihatin SME Economic Stimulus Package (Prihatin SME Plus), the government provided the GKP to ease micro entrepreneurs’ financial burden due to the COVID-19 pandemic. Applications for GKP were opened on May 1 until May 15, 2020, with an assistance amount of RM3,000 per micro entrepreneur benefiting 545,000 petty traders nationwide.
Tan Sri Muhyiddin Yassin also announced new packages for Malayia’s middle income group and the bottom 40 per cent wage earners. In a special address broadcast nationwide, Tan Sri Muhyiddin said his government is continuing two initiatives introduced under the KitaPrihatin programme earlier this year. One is a wage subsidy known as WSP 2.0 and the second a cash assistance known as BPN 2.0.
The financial assistance for the two income groups categorised as B40 and M40. Under WSP 2.0, subsidies to supplement the wages of employees will be given to businesses that have seen their revenue reduced by 30 per cent during the ongoing recovery movement control order (RMCO) compared to the same period last year.