Today, the Malaysian Minister of Finance that is Tengku Datuk Seri Zafrul Tengku Abdul Aziz has informed that the government will channel a lot of financial help towards all Malaysians through Budget 2022. This particular financial help will definitely benefit a lot of people that have been struggling to meet ends meet especially during this difficult time where everyone is facing. The horrendous COVID-19 pandemic really affects so many Malaysians financially.
For those who don’t know, these are the summaries of all the financial help received from the government next year.
- Budget 2022 is based on efforts as a Malaysian Family to rise again to restore the country.
- More than 28,000 Malaysian Family members have died due to COVID-19 now.
- Eight aid and economic stimulus packages were provided by the government amounting to a total of RM530 billion excluding the 2021 Budget allocation.
- 95 adults and 62 percent of adolescents have received the COVID-19 vaccine.
- The country’s economy in 2022 is projected to continue to grow between 5.5 to 6.5 percent.
- #TeamMOF published the 2022 Pre-Budget statement and four Public Consultation Papers, among others, covering the topic of improving government procurement.
- Budget 2022 resulted from a series of field trips and state tours, discussions of more than 30 focus groups, a review of more than 1,100 memoranda, and nearly 50,000 proposals.
- The assistance of RM2,000 under BKM to households with three or more children with an income of less than RM2,500 per month.
- #Bajet2022 themed Malaysian Family, Makmur Sejahtera supports three main axes, namely strengthening recovery, building resilience, and driving reform.
- Budget 2022: Government revenue is expected to increase to RM234 billion in 2022.
- Budget 2022: Provides a total of RM332.1 billion which sees the highest allocation value compared to previous budgets.
- Budget 2022: Additional assistance of RM500 to single parents who have dependent children and monthly income up to RM5,000.
- Budget 2022: RM233.5 billion allocated for operating expenditure, RM75.6 billion for development expenditure, and RM23 billion for COVID-19 Fund.
- Budget 2022: BKM benefits more than 9.6 million recipients with an allocation of RM8.2 billion.
- Budget 2022: RM2 billion provided as contingency savings.
- Budget 2022: Additional assistance of RM300 to senior citizens’ households.
- Budget 2022: The Government provides RM25 million to the Malaysian Family Foundation.
- The 2022 Budget provides RM32.4 billion to the Ministry of Health for operating and development expenditure in the country moving into the endemic phase of COVID-19.
- An additional RM4 billion is provided for the COVID-19 agenda, covering RM2 billion for the vaccination program.
- Budget 2022: The allocation for MOH is the second largest after the education sector.
- Budget 2022: Government proposes to implement the procurement of antiviral drugs to fight COVID-19.
- Budget 2022: PICK will continue to be strengthened to supply the third dose as a booster vaccine to adults, continue to vaccinate children 12 – 17 years.
- Budget 2022: A total of RM1 billion is provided for school maintenance and repair works.
- Budget 2022: Allocation of RM746 million to upgrade poor schools including 112 projects in Sabah and 165 in Sarawak.
- Budget 2022: Early Childhood Assistance for children of RM150.
- Budget 2022: Provision of daily milk supply under the Supplementary Food Plan with an allocation of RM400 million.
- Budget 2022: RM50 million to fund the purchase of teaching equipment and improvement of school facilities for special needs.
- Budget 2022: For the first time, this budget provides a One -Time Special Incentive for Teaching Aids of RM100 to more than 400,000 KPM school teachers.
- Budget 2022: Government proposes to extend special individual income tax relief up to RM2,500 for the purchase of mobile phones, computers, and tablets until 31 Dec 2022.
- Budget 2022: Incentive of 30 percent of monthly salary for the first six months encourages employers to provide employment to focus groups including the disabled, Orang Asli, and prisoners.
- Budget 2022: Government provides RM80 million under the Kasih Suri Keluarga Malaysia Program to provide social protection to housewives and widows through EPF and Socso contributions.
- Budget 2022: Government proposes to increase the minimum pension rate under the Disability Scheme from RM475 to RM550, to help 56,000 households.
- Budget 2022: Tax relief of up to RM4,000 to EPF contributors covers voluntary contributions such as individuals working in the gig sector.
- Budget 2022: A total of RM11.4 billion is provided to implement Bumiputera development initiatives.
- Budget 2022: Government agrees to approve sponsorship of the expertise program with an allocation of RM100 million for the benefit of 3,000 medical and dental contract officers.
- Budget 2022: A total of RM6.6 billion for educational facilities for Bumiputera children, while RM4.8 billion for capacity building programs and business financing included under TEKUN Nasional and the Bumiputera Prosperity Fund.
- Budget 2022: The government will allocate RM1.5 billion for the management and development of Islamic affairs under JPM.
- Budget 2022: Construction of Religious Secondary Schools in Labuan with a total cost of RM65 million.
- Budget 2022: Appointment of at least one female director for all public listed companies.
- Budget 2022: The EPF minimum contribution rate reduction period will be extended to 9 percent until June 2022 involving an estimated value of RM2 billion.
- Budget 2022: Sales tax exemption of 100 percent will be extended on CKD passenger vehicles and 50 percent on CBU until 30 June 2022.
- Budget 2022: Government provides guarantees of up to RM2 billion to banks through the Housing Credit Guarantee Scheme to provide access to financing to gig workers, small entrepreneurs, and farmers to buy houses.
- Budget 2022: An allocation of RM30 million for nursery facilities in government buildings, especially in public hospitals and universities.
- Budget 2022: A total of RM120 million for the maintenance of Chinese National Type Schools and Tamil National Type Schools.
- Budget 2022: Microcredit financing worth almost RM1.8 billion is provided.
- Budget 2022: A financing package worth RM40 billion is provided under the Semarak Niaga Keluarga Malaysia Program.
- Budget 2022: Allocation of RM13 million for the PDRM Division D11 for sexual investigations, women and children, including the creation of 100 new posts.
- Budget 2022: Free distribution of basic personal hygiene kits every month to 130,000 B40 young women.
- Budget 2022: More than RM11 million provided for mammogram test subsidies for high-risk women as well as cervical cancer screening tests.
- Budget 2022: Subsidy of 50 percent or up to RM150 for the purchase of child safety seats for B40 families.
- Budget 2022: Viable companies listed on Bursa Malaysia affected by the COVID-19 pandemic will receive an injection of additional funds through a government-owned SPV in the form of equity or other related instruments.
- Budget 2022: A special allocation of RM30 million to upgrade the infrastructure of government buildings to be OKU-friendly.
- Budget 2022: The Government agrees to fully bear the payment of motor vehicle licenses to all private vehicles owned by the disabled.
- Budget 2022: The private sector is urged to give an allowance of at least RM900 for the services of students undergoing industrial training programs.
- The government provides incentives to employers who employ graduate apprentices and graduates aged 18-30 of RM900 for six months.
- Extension of tax incentives for the Structured Industrial Training Program until the year of assessment 2025.
- Budget 2022: Allocation of RM16 billion for the Ministry of Defense, KDN RM17 billion.
- Budget 2022: An allocation of RM159 million to build, upgrade and maintain sports facilities nationwide.
- Budget 2022: RM10 million is allocated to the National Sports Council specifically to improve the training program for OKU athletes, such as the OKU Sports League.
- Budget 2022: Government proposes income tax exemption on prize money for eligible e-sports tournament winnings.
- Budget 2022: Allocation of RM50 million to implement programs such as active lifestyle culture, Fit Forever and the organization of National Sports Day
- Budget 2022: Housing projects are continued especially for the low-income group with a total value of RM1.5 billion
- Budget 2022: Subsidy of RM209 million for air transport services for the benefit of the people in the interior of Sabah and Sarawak.
- Budget 2022: RM80 million is provided for the Stop Bus Temporary Assistance Fund for the benefit of the bus operators, as well as RM115 million for unlimited bus and rail travel passes at a price of RM50 per month for users.
- Budget 2022: More than RM2.5 billion for rural infrastructure programs including almost RM1.5 billion for rural road and rural connectivity projects, and RM382 million for water supply.
- Budget 2022 provides an allocation of RM16 billion to the Ministry of Defense and RM17 billion to the Ministry of Home Affairs.
- Budget 2022: A total of RM1.6 billion is allocated for efforts to increase the alertness of key assets of the Malaysian Armed Forces.
- Budget 2022: At least RM30 billion will be allocated for capital expenditure and investment next year.
- Budget 2022: Special assistance to more than 20,000 tourism operators under the Ministry of Tourism, Arts and Culture with an allocation of RM85 million.
- Budget 2022: An allocation of RM265 million, among others, for the maintenance of quarters and common-use buildings under the supervision of the Property Management Division for public services.
Sources: BERNAMA
