Electricity discounts or rebates for all, help for bus, taxi operators under Permai package, says PM

KUALA LUMPUR, Jan 18 — Prime Minister Tan Sri Muhyiddin Yassin announced a special discount of 10 per cent for the electricity bills of six business sectors nationwide from January to March 2021.

In a special address today, Muhyiddin said the sectors include hotel operators, theme parks, convention centres, shopping malls, local airline offices as well as travel and tour agencies.

“In addition, electricity rebates will be given to all TNB users, domestic and non-domestic at a rate of two sen per kilowatt-hour, which is equivalent to a reduction in electricity bills of up to nine per cent for a period of six months, from January 1 to June 30, 2021,” he said during his speech.

Muhyiddin also introduced a Bus and Taxi Hire Purchase Rehabilitation Scheme which will give a 50 per cent guarantee on financing from hire purchase and leasing companies.

This initiative will be managed under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) for which the government has set aside RM 1 billion.

“Under this scheme, a 50 per cent guarantee on financing from hire purchase and leasing companies will be provided for selected buses such as sightseeing buses, and taxis.

“Through this, bus and taxi operators can restructure their financing and enjoy a 12-month moratorium and lower monthly repayments. A guarantee of RM1 billion will be provided for this purpose,” he said.

To support the private sector’s growth, the government announced the improved Danajamin Guarantee Scheme, or SJPD which was given an allocation of RM50 billion, to support the private sector’s growth and boost the country’s economy under the Penjana package.

Muhyiddin said the improved SJPD will increase the maximum financing from RM500 million to RM1 billion as well as expand the scope of financing to cover working capital with a guarantee period of up to 10 years.

It will also allow foreign-owned companies operating in Malaysia to also obtain the SJPD guarantee provided that Malaysian employees account for at least 75 per cent of their workforce.

“The government hopes that the improved SJPD will help promote growth of the private sector and retain Malaysia’s position as an investment destination of choice,” he said.

Today, Muhyiddin announced an additional stimulus package worth in excess of RM15 billion under the name of The Malaysian Economic and Rakyat Protection Assistance Package, or Permai.

The package includes 22 new initiatives that Muhyiddin said will put money in people’s pockets and ensure the survival of businesses.