The Edge Markets
19 January 2021
PERMAI package provides relief for transport industry players
PUTRAJAYA (Jan 18): Applications for the one-off financial assistance of RM500 for taxi and bus drivers, provided under the Malaysian Economic and Rakyat’s Protection Assistance Package (PERMAI) can be made through the Land Public Transport Agency (APAD).
Transport Minister Datuk Seri Dr Wee Ka Siong (pictured) in a statement today, said further information about the aid will be provided by the agency soon.
“As of now, about 600 eligible applicants have yet to register with APAD and this can delay the distribution of the aid,” he said.
In August 2020, the Financial Times reported that investors injected record sums into sustainable investment funds, largely based on environmental, social and corporate governance (ESG) principles, during the Covid-19 pandemic, with net inflows of US$71.1 billion globally between April and June 2020.
Prime Minister Tan Sri Muhyiddin Yassin today announced the RM15 billion PERMAI assistance package, with 22 initiatives to combat the Covid-19 outbreak, safeguard the welfare of the people and support business continuity.
The initiatives include the one-off financial assistance involving an allocation of RM66 million that will benefit 14,000 tourist guides, as well as 118,000 drivers of taxis, school buses, rental cars and e-hailing vehicles.
Apart from that, Muhyiddin said excise duty and sales tax exemption for the purpose of transfer, disposal and for private use of taxis provided the vehicle is owned for seven years, has been reduced to five years from seven years previously.
Syarikat Jaminan Pinjaman Perniagaan will also introduce a Bus and Taxi Hire Purchase Rehabilitation Scheme and under the scheme 50% guarantee on financing from hire purchase and leasing companies will be provided for selected buses such as tour buses and taxis.
This will allow bus and taxi operators to restructure their financing and enjoy a 12-month moratorium and lower monthly repayments.
Wee said it is hoped that the package would provide relief for transport industry players to face this difficult time and to weather the Covid-19 pandemic.