Increased BPR aid to be credited in June, moratorium for borrowers - PM Muhyiddin

KUALA LUMPUR: The government has agreed to increase the rate of the Bantuan Prihatin Rakyat (BPR) aid through the Supplementary Strategic Programme to Empower the People and Economy (PEMERKASA +) announced tonight.

Prime Minister Tan Sri Muhyiddin Yassin said households earning below RM2,500 would receive an additional BPR rate of RM500 and households earning between RM2,501 to RM5,000 will get RM300.

For singles, they will receive RM100 which will be credited to their respective recipient bank accounts at the end of June.

"This payment is in addition to the last payment phase of the BPR aid in September of RM2.4 billion," he said in his special message tonight.

In addition, Muhyiddin said following discussions with Bank Negara Malaysia (BNM), the banking industry has given full assurance and commitment to continue to provide loan repayment assistance and the moratorium will be implemented in June.

He said the B40 group and those affected by job losses as well as micro and Small and Medium Enterprises (SMEs) not allowed to operate during the Movement Control Order period will be given the option to seek this assistance.

Muhyiddin said they could choose to get approval for the moratorium automatically for three months or get a reduction in instalment repayment of 50 per cent over a period of six months.

He said the initiative is expected to benefit more than five million borrowers with a value of up to RM30 billion.

"The banking industry will provide more detailed information on this matter starting tomorrow. I hope the announcement of this automatic moratorium will provide some relief to borrowers of banking institutions.

"Borrowers only need to contact their respective banks to benefit from this assistance," he said.

Muhyiddin said the government will also launch the Bus and Taxi Hire Purchase Rehabilitation Scheme this week with an allocation of RM1 billion.

Through the scheme, eligible bus and taxi operators could get a loan moratorium of up to 12 months and extend the loan period up to 36 months.

The prime minister also suggested that government agencies and companies offer deferred loan repayments as well as rental discounts for business premises.

"MARA (Majlis Amanah Rakyat) will continue the MARA PRIHATIN Peace of Mind programme which is open until July 31, 2021. Borrowers can apply online to reschedule education loan repayments or moratorium," he said.

For MARA entrepreneurs affected by the shutdown of economic sectors, a 30 per cent discount on rental of business premises will be given for the months of May to July 2021, he said.

-- BERNAMA