PEMERKASA Worth RM20 Bln Launched, Along With RM11 Bln Fiscal Injection From Govt -- PM Muhyiddin

KUALA LUMPUR, March 17 (Bernama) -- As part of an effort to continuously support the recovery process, the Strategic Programme to Empower the People and the Economy or PEMERKASA worth RM20 billion, along with a new fiscal injection by the government amounting to RM11 billion, was launched Wednesday. Prime Minister Muhyiddin Yassin said PEMERKASA would focus on 20 strategic initiatives to boost economic growth, support business, and continue targeted assistance to the people and sectors that are still affected. "Our country is currently in the fifth stage of the 6R Strategy (Resolve, Resilience, Restart, Recovery, Revitalise, and Reform) of the Comprehensive Economic Recovery Plan, namely, ‘Revitalise’ or empower the economy. "At this stage, the economic recovery strategy is focused on efforts to boost and revive economic activity, or jump start the economy," he said when announcing PEMERKASA which has five main focuses. To date, the government has announced six assistance packages, namely PRIHATIN worth RM250 billion, PRIHATIN SMEs (RM10 billion), PENJANA (RM35 billion), Kita PRIHATIN (RM10 billion), PERMAI (RM15 billion). With the inclusion of PEMERKASA (RM20 billion), the total value of the aid packages amounted to RM340 billion. The five focuses of PEMERKASA are to curtail the spread of COVID-19, drive economic recovery, strengthen national competitiveness, ensure a regional and community inclusion agenda, and transform the economy.