Posted on 4th May 2020 08:34 AM | Announcement
Prihatin Special Grant (PSG) for Micro SMEs
The Ministry of Finance targets about 700,000 small and medium-sized enterprises (SMEs) to benefit from the RM2.1 billion Prihatin Special Grant (PSG) to ease the burden of micro-entrepreneurs badly affected by COVID-19. The PSG is a grant, paid on a one-off basis amounting to RM3,000 to qualified micro SMEs and does not need to be repaid. The application is open beginning from 2nd – 15th May 2020. Applications can be made online through the PSG portal at https://gkp.hasil.gov.my – provided by the IRB.
Applicants can review results of their applications starting in the first week of June 2020 with payments are expected to be made in June, which will be credited to the eligible applicant’s account. Among the qualifications to apply for PSG are:
1) Must be a Malaysian citizen and running a micro SME,
2) Total annual sales or turnover of less than RM300,000,
3) With the number of employees less than five, excluding the Owners, and
4) The micro SME must be registered with the IRB, local authorities or the Companies Commission of Malaysia before or on 31st December 2019 and continue to be in business when the application is made.