KUALA LUMPUR, Nov 5 — An Opposition MP has suggested that the government consider allocating RM1 billion for a Rent Relief Fund (RRF) to help affected small, family-owned and independent businesses survive the setbacks caused by the Covid-19 pandemic.

The DAP MP for Klang Charles Santiago said the fund is important as it could help small business owners stay afloat instead of sinking further into debt.

Citing his letter to the finance minister in proposing the suggestion, Charles said the fund should have three ingredients.

“First is the suspension of evictions where no family or business should be forced out of a premises before December 31, 2021.

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“The second is targeted rent waivers in which the government should waive off the leases for those staying at Projek Perumahan Rakyat (PPR) and Perumahan Awam (PA) which is under the Housing and Local Government Ministry.

“The third is special grants provided by the government for small businesses experiencing 50 per cent revenue drop, year-on-year, by subsidising 60 per cent of their rental fees and capped at RM8,500 until December 2021.

“It is time the government helped the people in a targeted way,” he told reporters during a press conference at the Parliament building here today.

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Charles warned that without the necessary support, small businesses will be pushed towards bankruptcy.

He also cited examples of how other countries have successfully implemented their rental relief funds, saying the Malaysian government should tailor its own based on these examples.

The countries that he referred to included Hong Kong, Singapore, Thailand and Luxembourg.