Zafrul: GKP 3.0 to benefit 1.2 million micro SMEs via additional allocation of RM1.2 billion

KUALA LUMPUR (March 28): The Prihatin Special Grant (GKP) 3.0, which involves an additional allocation of RM1.2 billion, is expected to benefit nearly 1.2 million local micro small and medium enterprises (SMEs).

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said a one-off payment of RM1,000 to eligible micro SMEs would be made in June after the GKP database has been updated.

“The combined GKP assistance, including GKP 1.0, GKP 2.0, GKP Plus, and GKP 3.0, that has benefitted and will benefit about 1.2 million micro SMEs, will total RM4.78 billion,” he said in a statement today.

Existing GKP 1.0 and GKP 2.0 recipients would automatically receive an additional RM1,000 without having to reapply, the minister said.

As for micro SMEs that have never received the grant before, Zafrul said applications for GKP 3.0 can be made online through the GKP portal for 15 days starting from April 1, 2021.

He pointed out that micro SMEs that have seen their applications rejected previously and have not received the aid, can still submit applications for a review.

“Micro SMEs that are eligible for GKP 3.0 are businesses that fulfil the micro SME criteria and were registered with the Companies Commission of Malaysia, local authorities or Inland Revenue Board as at Feb 28, 2021,” he said.

GKP 3.0 represents the government’s continued support for the business sector, especially local micro SMEs, through the Strategic Programme to Empower the People and Economy (PEMERKASA).

It is aimed at easing the financial burden of micro SMEs in order for them to revitalise their businesses during this still-challenging period.

Source: TheEdgeMarkets