KUALA LUMPUR: The Perlindungan Ekonomi dan Rakyat Malaysia (Permai) assistance package has brought a measure of relief to tourism industry players who were badly affected by the Covid-19 pandemic.
Prime Minister Tan Sri Muhyiddin Yassin said that under the package, the government has agreed to provide a one-off financial assistance of RM500 to alleviate the burden faced by the group, including taxi and bus drivers.
Those who stand to benefit from this initiative include 14,000 tourist guides as well as 118,000 drivers of taxis, school buses, tour buses, rental cars and e-hailing vehicles.
Muhyiddin said an additional allocation of RM66 million has been provided for this initiative.
"In addition, the government currently provides an exemption from excise duty and sales tax for the purpose of transfer, disposal and private use of taxis, provided the vehicle is owned for seven years.
"I am happy to announce that this condition has been reduced to five years, effective from Jan 1 to Dec 31, 2021," he said in a special address today.
Muhyiddin also announced the introduction of a new Bus and Taxi Hire Purchase Rehabilitation Scheme where those involved will get a 50 per cent guarantee on financing from hire purchase and leasing companies.
The prime minister said a guarantee of RM1 billion will be provided for this purpose.
"Syarikat Jaminan Pembiayaan Perniagaan will introduce a Bus and Taxi Hire Purchase Rehabilitation Scheme.
"Under this scheme, a 50 per cent guarantee on financing from hire purchase and leasing companies will be provided for selected buses such as sightseeing buses, and taxis.
"Through this, bus and taxi operators can restructure their financing and enjoy a 12-month moratorium and lower monthly repayments."