Micro-SMEs in Malaysia to receive additional RM500 from GKP 3.0 in July 2021

Minister for Finance Tengku Zafrul Aziz also shared that there are soft loan funds PKS micro can rely on to tide through the pandemic.

To help micro-SMEs (or PKS micro, where PKS refers to Perusahaan Mikro, Kecil dan Sederhana) tide through various economic challenges during the pandemic, Malaysia’s Minister for Finance Tengku Zafrul Aziz said that an additional RM500 will be paid out from 12 July (Monday) to the eligible enterprises in phases.

This additional fund is part of the special caring grants (Geran Khas Prihatin, or GKP) 3.0 announced earlier this year in tandem with PEMERKASA+ package. This is an addition to the RM1,000 PKS micro received previously in mid-June 2021.

“Payments will be credited directly to bank accounts registered in the GKP system,” the Ministry of Finance shared in its media release.

Over the course of GKP 1.0, 2.0, and 3.0, a total of RM5.08bn has been channelled to approximately 1mn micro-SMEs.

With regard to GKP 4.0, which was announced during the PEMULIH package, Minister Zafrul, on his Facebook, shared:

“For GKP 4.0 announced under the PEMULIH Package, distribution will be made to existing and new recipients in September and November 2021.

“New application for PKS micro who have never received GKP can be made between 15 to 31 July 2021.”

Under GKP 4.0, eligible recipients are to receive assistance of RM500 in September, and another RM500 in November.

The ministry also shared that by adding the fourth version of GKP, the total payment channelled to micro-SMEs since COVID-19 struck the nation is at RM6.08bn.

Beyond GKPs

Apart from GKPs, the ministry shared that “there are many other initiatives that can be fully utilised by PKS micro in preparation for long-term planning towards the recovery of their respective businesses.”

One of these is the micro-SMEs soft loan fund, which amounts to RM2.9bn, that enterprises can take up through Bank Simpanan Nasional, Agrobank, MARA, SME Corp, YaPEIM, and TEKUN.

There is another soft loan fund which both SMEs and micro-SMEs can apply for through Bank Negara Malaysia, which amounts to RM8.6bn.

“More information on these funds as well as other Government assistance can be found at belanjawan2021.treasury.gov.my/manfaat,” shared the Ministry of Finance.

 All images / Minister for Finance Tengku Zafrul Aziz’s Facebook

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