Is RM50 a lot of money? Erm… how to answer this question. Never mind, read on. Okay, this free money is not enough to buy that brand new handbag priced at RM500 after a 50 percent discount yeah. However, if we are speaking about RM750 million which is aimed at boosting spending and which will in turn help in the economic multiplier, then this is something very exciting for the whole market. With a multiplier effect of 4 for example, RM750 million will help boost the economy by up to RM3 billion. What is this and how do we get it?
Article in themalaysianreserve.com Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said in a statement that the Ministry of Finance (MoF) has launched the ePENJANA credit programme worth RM750 million. Under this programme, each eligible applicant will receive RM50 ePENJANA credits per person beginning 31st July 2020.
He said, “Three e-Wallet service providers, namely, Boost, GrabPay and Touch ‘n Go eWallet have been selected for the implementation of this initiative. This programme will be launched in collaboration with the MySejahtera COVID-19 contact tracing app.” Just download one of the three e-Wallets, as well as download and use the MySejahtera app.
He said, “The initiative is open to Malaysians aged 18 years and above, earning less than RM100,000 annually. Each eligible applicant can claim RM50 ePENJANA credits via one of the selected e-Wallet service providers (Boost, GrabPay or Touch ‘n Go eWallet).
“The eligible applicant will also receive additional matching incentives worth RM50 in the form of cash back, vouchers and/or points throughout the campaign period.” Article in themalaysianreserve.com
Okay, it’s not just RM50 yeah. The e-wallet partners are going to provide a matching RM50 we well. This meant that the total spending is up to RM100 and not just RM50. Still want to ask where the government is getting the money from? Or that the government should have gone bankrupt long time ago? Enough of all these political rhetorics. The money is real and some would already start to get it today. Just remember to spend it and help the economy. We are in this together dear Malaysians.
Oh yeah, for those who do not qualify, always be grateful that your earning is higher than the requirement. Or should we wish to earn much lower salary and get that RM50? Think about that and go enjoy that latte in the cafe. A Malaysia with a positive GDP growth may just give us a good increment next year and that increment would surely also be more than RM50. Happy understanding and thinking on the positive side. Okay, I admit, I also do not qualify but I am happy for all those who are now thinking of what to buy with the RM100.
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