According to Finance Minister, the BKM is the highest cash assistance scheme in Malaysia’s history, with families receiving up to RM2,600 in assistance. The entire scheme will benefit 8.6 million people and cost approximately RM8 billion.
The previous government introduced the BR1M and BSH, both of which have a maximum payout of RM1,200 and RM1,480, both of which are lower than the current RM2,600.
BKM is for families with monthly income less than RM5,000, while the BSH and BR1M are for families with monthly income less than RM4,000. only 4.5 million people benefit from the BSH and 7.2 million from the BR1M. This also means that the BKM has actually covered the M40 middle income group instead of the B40 low income group as the BSH only covers.
The BKM is distributed in four phases, namely March, June, September and December. The second phase of the BKM payment started on June 27th.
