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    Brim 2018: Introducing Malaysia’s Bantuan Rakyat 1Malaysia (BR1M)

    The Financial Status Of Malaysians

    Malaysia is an amazing country with wonderful sceneries and rich culture. It is home to amazing food and picturesque nature island escapes. However, the richness and beauty of this country don’t exempt it from the reality that the cost of living in Malaysia is high and even increases yearly. It isn’t helped by the fact that not all Malaysians are well-off and have a good financial status and in fact, a lot of them are in need of financial assistance.

    Bantuan Rakyat 1Malaysia (BR1M)

    Created in 2012, the Bantuan Rakyat 1Malaysia or BR1M is a direct monetary assistance scheme created to help Malaysian citizens who have a low income. Eligibilities of this program include elderly people, single people with dependent family members, married couples, and single parents who earn ahousehold income less than RM 4000.

     

    Currently, Malaysians have called for the increase for the budget of brim 2018 on the grounds that the cost of living in Malaysia has continuously increased. They have also called for the increase of eligibilities of the beneficiaries which means that more Malaysians will be eligible to receive financial aid from BR1M. However, there are financial analysts that believe that such increase would not be beneficial in the long run as it may cause people to rely on government subsidies instead of working hard to earn money.

    As of 2017, beneficiaries of the BR1M have increased to around hundreds of thousands as more people find themselves in need of financial assistance. The Malaysian government seeks to provide them with assistance but have released a reminder that there are eligibilities to consider before being accepted as beneficiaries as citizens who do not fulfill such have been filing applications to be included under the BR1M, most commonly those who actually have household incomes of above RM 4000.

     
    User 09 10 17 - 08:37 | |
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