The Economic Stimulus Package 2020 (PRE 2020) undertaken by the government will ensure that the economic risks arising from COVID-19 can be effectively addressed through the strategies outlined.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the government is very concerned about the negative effects of COVID-19 that have affected individuals and small and medium enterprises (SMEs).
Through PRE 2020, the government has taken various steps, including providing several funds for impacted individuals and SMEs, he said in a statement today.
Tengku Zafrul said the Ministry of Finance is also working closely with Bank Negara Malaysia, the Securities Commission and Bursa Malaysia to ensure that the capital and financial markets continue to operate in a transparent and orderly manner.
Besides providing assistance to SMEs to enable them to maintain business operations, protect jobs and encourage domestic investment, he said local banks have also taken steps to support affected individuals and SMEs.
Various aid such as loan facilities, rescheduling and restructuring of repayment, and a six-month moratorium on businesses for SMEs and individuals have been provided.
In addition, several insurance companies and takaful operators have taken the initiative to help ease the burden of policyholders by extending the benefits of insurance to those affected by COVID-19.
In the wake of the Movement Control Order directive, Tengku Zafrul said the government also comes to the aid of taxpayers who are facing difficulties.
Hence, he said, several measures have been taken by the Inland Revenue Board of Malaysia to facilitate the taxpayers in rearranging their tax matters to ease their burden.
Tengku Zafrul said the Ministry of Finance and its agencies will continue to work with the financial and investment sectors for further measures to assist and support businesses and households to address current needs.
The RM20 billion PRE 2020 was unveiled on Feb 27 to cushion the COVID-19 impact and stimulate the economy.
-- BERNAMA
Bernama
Thu Mar 19 2020
The government is very concerned about the negative effects of COVID-19 that have affected individuals and small and medium enterprises (SMEs). - Filepic
What to watch for ahead of US presidential inauguration
Here's a timeline of events between now and inauguration day.
The battle to reduce road deaths
In Malaysia, over half a million road accidents have been recorded so far this year.
Pro-Palestinian NGOs seek court order to stop Dutch arms exports to Israel
The Dutch state, as a signatory to the 1948 Genocide Convention, has a duty to take all reasonable measures at its disposal to prevent genocide.
How quickly can Trump's Musk-led efficiency panel slash US regulations?
Moves by Trump and his appointees to eliminate existing rules will be met with legal challenges, as many progressive groups and Democratic officials have made clear.
2TM: Consultations on PTPTN loans, admission to IPTA at MOHE booth
Consultations on PTPTN loans and admission to IPTA are among services provided at the Higher Education Ministry booth.
Kampung Tanjung Kala residents affected by flooded bridge every time it rains heavily
Almost 200 residents from 60 homes in Kampung Tanjung Kala have ended up stuck when their 200-metre (m) long concrete bridge flooded.
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.
Malaysia's inflation at 1.9 pct in Oct 2024 - DOSM
Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.
Saudi Arabia showcases Vision 2030 goals at Airshow China 2024
For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.
King Charles' coronation cost GBP 71mil, govt accounts show
The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.
Couple and associate charged with trafficking 51.9 kg of meth
A married couple and a man were charged in the Magistrate's Court here today with trafficking 51.974 kilogrammes of Methamphetamine.