RM8.97 bil approved under Socso wage subsidy scheme

Finance Minister Tengku Zafrul Aziz says the Socso wage subsidy programme has helped employers and workers to cushion the impact of the Covid-19 pandemic.

KUALA LUMPUR: The Social Security Organisation (Socso) has approved RM8.97 billion for 2.58 million workers under the wage subsidy programme as of July 24, Finance Minister Tengku Zafrul Aziz said.

He said the wage subsidy scheme has been able to help employers and workers weather the Covid-19 crisis.

“Socso has also uploaded the names of employers who have received assistance under this programme.

“This was done after complaints were received from the public that a handful of employers who have taken the subsidy are still laying off workers or cutting their wages without their consent,” he said in a report on the implementation of the Prihatin Rakyat Economic Stimulus Package (Prihatin) and National Economic Recovery Plan (Penjana).

On the moratorium on loan repayments that took effect on April 1, Tengku Zafrul said the total amount of loan repayments involved was estimated to have reached RM62.8 billion as of July 24.

Of this figure, he said, RM21.9 billion involved the business sector and RM40.8 billion involved individuals.

He also said that RM2.7 billion had been credited into the accounts of 4.13 million recipients under the third phase of the Cost of Living Aid (BSH) scheme implemented from July 24 to 31.