What is the total value of the Prihatin Special Grant for SMEs?

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The Prihatin Special Grant (PSG) has an allocated value of RM2.1 billion.

The Ministry of Finance aims for approximately 700,000 small and medium-sized enterprises (SMEs) to receive the RM2.1 billion Prihatin Special Grant (PSG). This one-off grant, amounting to RM3,000 per eligible micro SME, does not require repayment.
Grant Allocation and Disbursement Targets
The total allocation for the Prihatin Special Grant (PSG) stands at RM2.1 billion. The Ministry of Finance has set a target to assist around 700,000 micro SMEs through this initiative, aiming to alleviate financial pressure on small businesses impacted by the Covid-19 pandemic.
Application Period and Timeline
Applications for the PSG were open for a 15-day period, commencing on May 1, 2020, and concluding on May 15, 2020. This concentrated application window was intended to facilitate expedited processing and payment disbursement following the submission deadline.
Eligibility Criteria for Micro SMEs
To qualify for the PSG, applicants must be Malaysian citizens operating a micro SME. Key criteria include having total annual sales or turnover below RM300,000 and employing fewer than five individuals, excluding the owner. Furthermore, these micro SMEs needed to be registered with relevant authorities, such as the Inland Revenue Board (IRB), local councils, or the Companies Commission of Malaysia, by December 31, 2019, and must have remained in operation at the time of application.
Application Review and Payment Schedule
Applicants were informed that they could review the results of their applications starting in the first week of June 2020. Following the successful verification of applications, payments were anticipated to be made in June 2020, with funds to be credited directly into the eligible applicants' bank accounts.

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What is the total value of the Prihatin Special Grant for SMEs?

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