The Prihatin Special Grant (GKP) 3.0, which includes an additional allocation of RM1.2 billion is projected to support approximately 1.2 million local micro, small, and medium-sized businesses (SMEs).
Finance Minister Tengku Zafrul Abdul Aziz stated that after the GKP database is updated, a one-time payment of RM1,000 will be made to eligible micro-SMEs in June.
“The combined GKP assistance, including GKP 1.0, GKP 2.0, GKP Plus, and GKP 3.0, that has benefitted and will continue to benefit about 1.2 million micro-SMEs, will total RM4.78 billion.
“Existing recipients of GKP 1.0 and GKP 2.0 will receive an additional payment of RM1,000 without having to reapply,” he said in a statement.
Zafrul pointed out that for micro-SMEs that have not passed and have not received GKP before will still have the opportunity to submit an application for review.
“Businesses that meet the micro-SME requirements and are also registered with the Companies Commission of Malaysia (SSM), Local Authorities, or the Inland Revenue Board of Malaysia (IRB) as of Feb 28 are eligible for GKP 3.0,” he said.
Through the Strategic Programme to Empower the People and Economy (PEMERKASA), GKP 3.0 reflects the government’s ongoing support for the business sector, especially local micro-SMEs.
It aims to alleviate the financial burden on micro-SMEs so that they can revitalise their businesses during this still difficult time.