Malaysia disburses US$2 billion Rahmah Cash Aid for B40 group
Ahead of the Aidiladha celebration, the Malaysian government has announced the disbursement of the third phase of the Rahmah Cash Aid (STR) for the B40 group recipients. Prime Minister Anwar Ibrahim stated that this payment will involve an allocation of over US$2 billion, benefiting eight million beneficiaries across the nation.
Additionally, Anwar mentioned that the e-Tunai Belia Rahmah, a cash aid of US$200 for youths aged 18 to 21, will be distributed before the third week of this month. This announcement was made during the Minister’s Question Time at the Dewan Rakyat sitting.
In response to a question from Noraini Ahmad regarding the government’s reforms in approach and governance of laws or regulations to curb the leakage of public money, Anwar, who is also the finance minister, said that as of May, a total of US$158 billion or 41% of the entire 2023 Budget had been spent. He described this as the best capacity of the first quarter when compared with previous years.
The US$158 billion includes US$3 billion for the first and second phase payments of STR, benefiting 8.7 million recipients; special financial assistance to 1.3 million civil servants and over one million retirees; and US$3 billion for electricity bill subsidies.
“US$11 billion for petroleum product subsidies and US$800 million for Early Schooling Assistance,” he said.
Anwar also highlighted other steps taken by the government, such as a 100% stamp duty exemption for the purchase of properties priced below US$500,000 and a 75% stamp duty exemption for properties priced between US$500,000 and US$1 million. This exemption is only applicable to first-time house buyers.
Furthermore, the government has agreed to fully exempt stamp duty on instruments of transfer of ownership of real estate by way of love and affection between parents and children, and between grandparents and grandchildren, limited to the first US$1 million of the property’s value.
