KUALA LUMPUR: Prime Minister Tan Muhyiddin Yassin has unveiled a RM40bil package, including a new targeted loan moratorium and cash handouts, to cushion the economic impact of the total lockdown amid the worsening Covid-19 pandemic.
Direct cash injection by the government amounted to RM5bil, including a RM2.1bil additional cash support for lower income group under the Bantuan Prihatin Rakyat programme.
The main bulk of the latest package comes under a RM30bil targeted loan moratorium.
Under the plan, borrowers in lower income group - categorised as B40 - would be eligible for an automatic three-month loan moratorium. They could also opt for a 50% loan repayment reduction for six months. The scheme is expected to benefit an estimated 5 million borrowers starting from June.
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