To All Members
GOVERNMENT INTRODUCES WAGE SUBSIDY PROGRAMME 2.0 TO SUPPORT COMPANIES AND PEOPLE AFFECTED BY COVID-19
Prime Minister Tan Sri Muhyiddin Yassin today announced new packages for Malaysia’s two income groups categorised as B40 and M40. The wage subsidy programme (WSP) will also be continued. These two initiatives under the initial Kerangka Inisiatif Tambahan Prihatin (KitaPrihatin) framework will be known as WSP 2.0 and Bantuan Prihatin Nasional 2.0 (BPN 2.0).
Under WSP 2.0, the following initiatives will be introduced:
- Subsidies to supplement the wages of employees will be given to businesses that have seen their revenue reduced by 30 percent during the ongoing recovery movement control order (RMCO) compared to last year.
- The wage subsidy will last for three months at a rate of RM600 per month for each employee up to a maximum of 200 employees.
- Applications are open from 1 October until 31 December 2020.
WSP 2.0 will also be open to companies that have registered with the Social Security Organisation (SOCSO) from 1 April until 31 August 2020. Applicants who have not received any aid under the wage subsidy programme will receive a wage subsidy of up to 6 months.
The Geran Khas Prihatin (GKP) will also re-open for application from 1 to 31 October 2020 for micro-businesses that have registered with Suruhanjaya Syarikat Malaysia (SSM) or possess a business licence from local authorities as at 31 August 2020. The payment for GKP will be made starting 25 November 2020.
Please click HERE for the Prime Minister’s speech.
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Dr Nurmazilah Dato’ Mahzan
Chief Executive Officer