Stimulus: Selangor offers moratorium on loan payments and rent

 

The Selangor government announced a stimulus package today that will offer a moratorium on several types of loan payments and rent.

Some 40,000 borrowers from the Yayasan Hijrah Selangor micro-credit scheme will have their loan payments deferred for 1.5 months to help their cash flow.

Some 1,300 borrowers from the Tabung Kumpulan Wang Biasiswa Negeri Selangor who graduated in 2021 will have the option of deferring the start of their loan repayment for up to 12 months after graduating.

Yayasan Selangor will impose a student loan deferment for 286 students who are graduating in 2021. Another 2,088 borrowers will have an option of restructuring their loans.

Another 2,632 renters of Selangor Project Perumahan Rakyat schemes and another 477 participants of the Skim Smart Sewa will have their July rental deferred.

Selangor Menteri Besar Amirudin Shari (above) said the stimulus package - dubbed Pakej Kita Selangor 2.0 - was valued at RM551.56 million. The actual fiscal injection is uncertain.

Other highlights of the stimulus package include:

• Compassionate payment of RM1,000 to the families of those who died of Covid-19.
• Cash handout of RM500 for disabled people.
• Cash handout of RM450 for pre-school operators and RM150 for pre-school teachers.
• Subsidised unlimited internet mobile data plans for 70,000 needy folks. Participants only need to pay RM15 a month.
• Internet bill subsidies for the M40 (middle 40 percent income earners) of between RM10 and RM30 a month for an entire year, with conditions. Starts July 1.
• Injection of RM200 million into the Selangor Advance scheme for struggling companies. Can be utilised for paying suppliers, contractors, bank guarantees, capital and loan payments.
• New pilot agriculture project in Bukit Changgang for 30 entrepreneurs.
• Agriculture industry - subsidies for pest control, seedlings, cash aid, and artificial reef installations worth RM1.93 million.
• Fresh allocation of RM80 million into Yayasan Hijrah Selangor micro-credit scheme.
• Tourism industry aid in form of grants, digitalisation training, and cash handouts. Package valued at RM2.55 million.
• RM20 rebate for the needy who use GrabCar services to vaccination centres.
• Food baskets and "home assessment tools" for those who are sick.
• A third round of free Covid-19 tests, involving 100,000 samples. - Mkini