A second Economic Stimulus Package (ESP) has been announced by Prime Minister Tan Sri Muhyiddin Yassin on 27 March 2020, a month after the announcement of the first ESP. The “Prihatin Rakyat Economic Stimulus Package” focal points are to protect the welfare and well-being of the rakyat, support businesses especially the SMEs, and strengthen the nation’s economy.
It includes measures to:
- Reduce business burdens during COVID-19
- Secure employments
- Increase private consumption
- Reduce the rate of private commitments
The summaries below provide a good overview of the second ESP:
- PwC TaXavvy, Issues 15-2020 | Second Economic Stimulus Package 2020 (Prihatin Rakyat)
- EY Take 5 for Business, Volume 8 Issues 4 | Covid-19: Second Economic Stimulus Package 2020
- Deloitte | Prihatin Rakyat Economic Stimulus Package
- Baker Tilly | Prihatin Rakyat: Economic Stimulus Package
- KPMG TAX WHIZ | Prihatin Rakyat Economic Stimulus Package 2020
Full speech of the second ESP announcement is available here.
Summaries and full speech of the first ESP are available here.
Details on PERKESO’s Wage Subsidy Programme mentioned in the ESP is available here.