PETALING JAYA: About 4.8 million workers from small and medium enterprises (SMEs) will benefit from the government's wage subsidy programme, which was increased from RM7.9bil to RM13.8bil.
Prime Minister Tan Sri Muhyiddin Yassin, who announced the special SME stimulus package on Monday , said all employees with a salary below RM4,000 a month will benefit from the wage subsidy programme.
These SMEs must register with the Inland Revenue Board to enjoy the grant, he said, adding that the government will obtain a list of eligible SMEs from local authorities and CCM. “I want to thank GLCs such as Mara, Petronas, PNB, PLUS, UDA, as well as several state-owned companies which agreed to provide discount or rental exemption for SME tenants in their premises.”
He also urged licensed moneylenders to provide a moratorium on the instalment payments by SMEs for six months beginning April 2020.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Outcry over Liverpool move to furlough staff | The Malaysian InsightPremier League stars warn of £200 million tax shortfall if 30% wage cuts introduced.
Read more »
All firms in Singapore to get 75 per cent wage subsidy in April | Malay MailSINGAPORE, April 7 — To help companies retain and pay their workers during the “circuit breaker” period, Deputy Prime Minister Heng Swee Keat today announced a slew of measures to support businesses, such as higher wage subsidies, cuts in foreign worker levies, an extension on rental waivers...
Read more »
Wage subsidy 'to almost double' as PM set to announce RM10 billion help for SMEsThis latest plan is on top of the RM250 billion Prihatin package. FMTNews Prihatin SME
Read more »
Jobs destroyed worldwide as virus triggers recession(Bloomberg) -- The world’s workers are reeling from the initial shock of the coronavirus recession, with job losses and welfare claims around the globe already running into the millions this week
Read more »