Tax Insights > Short-Term Economic Recovery Plan (PENJANA)

Short-Term Economic Recovery Plan (PENJANA)

November 6, 2020 Tax Insights

On 5 June 2020, the Prime Minister of Malaysia announced the Short-term Economic Recovery Plan (PENJANA) worth RM35 billon, comprising 40 initiatives aimed at providing additional measures to the PRIHATIN Stimulus Packages announced previously.  Whilst the PRIHATIN initiatives were temporary and focused on keeping businesses afloat during the Movement Control Order (“MCO”) period, PENJANA’s initiatives outline the Malaysian Government’s short-term focus to spur the nation’s economic recovery from the COVID-19 pandemic which has also crippled the global economy. This is in line with the 6R approach that was announced earlier by the Government – Resolve, Resilience, Restart, Recovery, Revitalise and Reform.

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Celine See
Tricor Services (Malaysia) Sdn Bhd
Director, Business Development

Tel: +6 03 2783 9191
Email: [email protected]

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