Pemulih: RM3.8bil allocated under Wage Subsidy Programme 4.0 benefitting 2.5 million employees, says SocsoAt a time when business is slow and the need to comply with strict SOPs has stifled operations, staying afloat is all that matters.To do so, businesses count on the Government and its many incentives and assistance plans to tide over these challenging times.
All these incentives, financial assistance and loan moratoriums help to pay the fixed overheads and keep many small and medium enterprises from shutting down altogether.Under the Program Strategik Memperkasa Rakyat dan Ekonomi Tambahan announced on May 31, 20 million people and 2.4 million businesses will receive assistance during Phase One of the National Recovery Plan.
Direct financial assistance under Pemerkasa Plus in the form of a one-month extension of the Wage Subsidy Programme 3.0 for local workers; a three-month automatic loan moratorium for individuals and SMEs; and a one-month Human Resources Development levy exemption are lifelines for most manufacturing companies, he added.
“There is no qualification requirement. Borrowers only need to apply and approval will be given automatically by the banks.