Malaysia’s Economic Stimulus Packages (ESPs) worth RM295 billion has managed to save more than 2.75 million jobs and more than 800,000 businesses, including micro and small and medium-sized enterprises (SMEs). Prime Minister Tan Sri Muhyiddin Yassin said the measures aims to address the impact from the COVID-19 pandemic, while simultaneously ensuring business continuity.

“More than 2.75 million jobs have been saved through the implementation of the Wage Subsidy Programme as well as the Employee Retention Programme. “Additionally, more than 800,000 businesses, including micro businesses and SMEs have benefited from the ESPs,” he said in a live telecast on the latest update on the Recovery Movement Control Order.

“In terms of assistance for entrepreneurs, 545,000 micro entrepreneurs have received the PRIHATIN Special Grant, totalling RM1.6 billion; and 7,000 applicants of the BSN micro credit scheme have received a total of RM247 million,” he said. Additionally, 23,000 recipients have benefited from the National Entrepreneur Group Economic Fund’s (TEKUN Nasional) micro credit scheme, totalling RM177 million.

Tan Sri Muhyiddin said the government had distributed RM7.4 billion in wage subsidies to 834,000 employers, to be channelled to 6.7 million employees nationwide.


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