Friday 29 Mar 2024
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KUALA LUMPUR (Oct 21): The Government's 1Malaysia People’s Aid disbursement amounted to RM5.4 billion as at September 2016 to offer financial help to low-income households and single individuals.

The programme is also known as Bantuan Rakyat 1Malaysia (BR1M). The scheme is among measures to improve the livelihood of the bottom 40% households' (B40).

According to the Finance Ministry's 2016/2017 Economic Report, the Government disbursed the RM5.4 billion to 4.2 million households and 3.1 million single individuals.

The ministry said the Government disbursed the money in four stages so far this year, on Jan 28, April 28, June 15 and Sept 28.

"Rising costs of living which refer to the increasing expenditure in maintaining a certain standard of living is a concern, particularly among the low and middle-income groups," the ministry said.

Besides BR1M, the Government also offered financial assistance to businessmen to raise the quality of life among B40 households.

The ministry said the Government earmarked RM500 million for the National Entrepreneurial Group Economic Fund or Tekun Nasional in 2016.

According to the ministry, as at end August, Tekun disbursed RM464 million to 36,462 Bumiputra entrepreneurs.

To help Malaysian Indian entrepreneurs, Tekun via the Indian Entrepreneur Development Scheme, disbursed RM39.5 million to 1,785 entrepreneurs during the first eight months of the year.

Meanwhile, the 1Malaysia Hawkers and Petty Traders Foundation, which was established to help Chinese hawkers and petty traders, disbursed RM16 million.

A total of 1,100 hawkers and petty traders gained from the disbursement.

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