Stimulus Package For All

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PRIME Minister Muhyiddin Yassin today unveiled an economic stimulus package known as package 'prihatin' (caring) valued at RM250 billion that will benefit all Malaysians (almost all sectors of the community, I believe).From the amount, RM128b is to protect the welfare of the people, RM100b to support businesses including small and medium enterprises. Prior to this, it was also announced that the Employees Provident Fund contributors aged below 55, can withdraw RM500 for up to 12 months.Among the contents of today's package are:- RM500mil for Health Ministry to ramp up the capability and resources of Health Ministry;- Special allowance for healthcare workers from RM400 to RM600 a month from April 1 to end of pandemic;- Additional special allowance of RM200 a month for frontliners for police, immigration, Customs Department;- RM1,600 in aid to households earning below RM4,000, with RM1,000 paid in April and RM600 in May;National Caring Aid (Bantuan Prihatin Nasional) involving one-off cash payment of RM10bil will be given to the B40 and M40 group, including private workers, farmers and fishermen. This includes RM1,600 to four million households earning RM4,000 and below; RM1,000 for households earning RM4,000 above; RM800 for single Malaysians aged 21 and above earning RM2,000 and below; RM500 for single Malaysians aged 21 and above earning between RM2,000 and RM4,000;- RM200 one-off aid to students of higher education institutions who are affected;- Free Internet from April onwards until the end of MCO;- Government together with TNB will add an allocation of RM530mil for discounts between 15% and 50% for electricity usage up to a maximum of 600kW a month for six months from the April bill; and- Exemption of rental payment for PPR and public housing for six months.Well said. However, I would rather call this an emergency package for the next three or maybe six months. As many other countries have come up with respective emergency packages, take this as one, if you may.And there are confusion. Some say from where will the government get that RM250 billion? Or is this another 'budget-like' announcement?To me, the answer is simple. The government will only have to fork out some RM22b for the package. The rest of it comes from us, the rakyat. After a lot of deduction, free period of payment and waiving of some charges, we will get to round figure. So, its our money to be circulated in order to maintain liquidity of the market.Some even questioned and made twisting formulas about the stimulus package, that the government will utilise of foreign reserves, government papers and other sources. Wrong! The bottom line of the package is - USE YOUR MONEY WISELY!However, it was a good one as it will help ease our the rakyat's burden, especially the middle and lower income groups. The industry too will be able to get a breather. Lowers are those who had given out loans!Kudos Mr PM, you deserve a pat on the back...

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