GKP 3.0 to benefit 1.2 mln micro SMEs via additional allocation of RM1.2 bln - Tengku Zafrul

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the one-off payments of RM1,000 to eligible micro SMEs would be made in June after the GKP database had been updated.

"The combined GKP assistance, including GKP 1.0, GKP 2.0, GKP Plus and GKP 3.0, that has benefitted and will benefit about 1.2 million micro SMEs, will total RM4.78 billion," he said in a statement today.

Existing GKP 1.0 and GKP 2.0 recipients would automatically receive an additional RM1,000 without having to reapply, the minister said.

As for micro SMEs that had never received the grant before, Tengku Zafrul said applications for GKP 3.0 could be made online through the GKP portal for 15 days starting April 1, 2021.

He pointed out that micro SMEs that had seen their applications rejected previously and had not received the aid, could still submit applications for a review.

"Micro SMEs that are eligible for GKP 3.0 are businesses that fulfil the micro SME criteria and are registered with the Companies Commission of Malaysia, local authorities or Inland Revenue Board as at Feb 28, 2021," he said.

GKP 3.0 represents the government's continued support for the business sector, especially local micro SMEs, through the Strategic Programme to Empower the People and Economy (PEMERKASA).

It is aimed at easing the financial burden of micro SMEs in order for them to revitalise their businesses during this still-challenging period.