More Cash Aid To Fight Rising Cost Of Living

In its pre-Budget 2023 statement, the Finance Ministry had highlighted that the provision of direct cash assistance to vulnerable groups would also be enhanced with more targeted focus, especially to the elderly, school students, PwD, indigenous people and single mothers.

Meanwhile the cash aid provided by the government in Budget 2022 is being rolled out on schedule. The government has announced that the third phase of Bantuan Keluarga Malaysia (BKM). This round of cash aid will be credited into eligible recipients bank accounts starting 20 September 2022.

Prime Minister Datuk Seri Ismail Sabri Yaakob said the BKM payout totalling RM2.2 billion is to help low income families cope with the rising cost of living.

Source: MoF Facebook

To date, a total RM5.9 billion has been paid out to BKM recipients through scheduled payment phases. BKM recipients include those from B40 households, single senior citizens and eligible single persons categories as well as those whose appeals for BKM have been approved.

The BKM is a direct cash aid initiative announced in Malaysia’s 2022 Budget. It is to benefit the approximately 8.6 million low income earners, who can receive up to RM2,500 this year under the initiative. Originally, the financial allocation for the second phase of BKM was RM1.11 billion.

There is a fourth phase of BKM cash aid payout worth RM2.1 billion scheduled for December.

Eligible recipients can check the status of their payments at https://bkm.hasil.gov.my.