What will happen to 'Makcik Kiah' after May? Finance Minister explains

Finance Minister Tengku Zafrul Tengku Abdul Aziz said the financial assistance to the B40 group like "Makcik Kiah" will not end in May as the government will continue to help in a form of Household Living Aid in June.

Under the stimulus package announced by the Prime Minister Muhyiddin Yassin today, households earning less than RM4,000 per month would receive RM1,600 in total, where RM1,000 would be paid in April and the balance in May.

"For someone like Makcik Kiah will get a payment in April and May.

"And then we have Household Living Aid to be given to someone like Makcik Kiah in June," he said in an interview with Astro Awani this evening.

However, Tengku Zafrul (photo) did not disclose the amount of the aid during the interview.

Dismissing the critics that the B40 group only actually save about RM840 from the incentives and assistance, Tengku Zafrul said the plan is to help the immediate situation.

"At the end of the day, what is important to get people like "Makcik Kiah" and her husband to have food on the people.

"Cash flow of the household is very important. It's not so much for them to make money, but for survival."

Meanwhile, he also believed that the plight of the M40 group has been addressed in the package.

"The definition of M40 for us is those who earn between RM4,000 and RM8,000.

"We are helping them through Bantuan Prihatin Nasional through one-off cash payment of RM1,000.

"We allow them to take out money from account two (of the EPF), we also allow them to take out money up to RM1500 from the Private Retirement Scheme funds without any tax penalty,

"The banks are being very accomodating in allowing deferment of principal and interest, so these are all targeted towards the M40," he said.

Muhyiddin, in his speech today, had illustrated the benefits in simple terms using an example of a hypothetical family.

The stimulus package totalling RM250 billion is to help Malaysians face the Covid-19 pandemic and the after-effects of the movement control order. - Mkini

✍ Credit given to the original owner of this post : ☕ Malaysians Must Know the TRUTH

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