Budget 2023: e-Pemula credit increases to RM200; govt to bear MyPSV e-hailing licence payment

KUALA LUMPUR: Two million youths aged 18 to 20, and full-time students aged 21 and above, will receive the benefits of the e-Pemula, an e-wallet credit programme, as its one-off credit will be increased to RM200 next year.

Finance Minister, Tengku Datuk Seri Zafrul Abdul Aziz, when tabling the Supply Bill 2023 in the Dewan Rakyat today, said that the programme will continue, involving RM400 million in allocation, with the increase from the original amount of RM150, as part of improvement efforts.

In addition, he said, the employment initiative under the Social Security Organisation (Socso) will also be provided to employers who employed youths, aged 18 to 30, who had been looking for employment for more than three months.

This initiative is also extended to employers who employ Technical and Vocational Education and Training (TVET) graduates.

"To encourage more young people to do business, a total of RM305 million will be provided as special loan facilities for youths through SME Bank, Tekun (National Entrepreneur Group Economic Fund), Mara (Majlis Amanah Rakyat), BSN (Bank Simpanan Nasional) and Agrobank," he said.

In addition, the Finance Minister said that RM50 million funding will also be provided through BSN for the Skim Penjaja Muda Keluarga Malaysia, which offers loans of up to RM50,000 for ten thousand young individuals to generate their own income, such as operating a food truck business.

To help B40 youth who generate income through services such as taxis, buses and e-hailing, Tengku Zafrul said that the government agreed to bear the licence fee under the MyPSV programme, as well as the B2 class motorcycle driving licence fee.

"To encourage youths to work, the Tekun Youth Mobilepreneur Scheme continues, with a RM10 million fund to finance the capital of young individuals involved in delivery services using motorcycles," he said.

Meanwhile, he also announced that the Malaysian Family Youth Package, which helps youths get a pre-paid internet data plan subscription package for RM30 for a period of three months, has been extended until April 2023.

-- BERNAMA