The RM4.6 billion allocation for the 1Malaysia People’s Aid (BR1M) next year will be disbursed by February 2014.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the amount allocated for BR1M 2014 had increased because of the rising number of recipients.

The payout will involve seven million people, an increase from last year’s 6.8 million.

Husni said the ministry was studying ways to distribute the aid more efficiently.

7 Million People will receive BR1M RM650Second Finance Minister

“We are undertaking studies on how to continue with BR1M and in what form. We hope by 2015, we can introduce a new model and link it to the government’s subsidy rationalisation,” he said after launching Malaysia Debt Venture Bhd’s RM200 million intellectual property fund scheme, here, yesterday.

Apply your BR1M before 31 January 2014

The ministry announced recently that the BR1M 2014 application was open to those who had never registered before, from Dec 23 to Jan 31 next year.

Those who have received the aid before need only to update their personal details, such as address, bank account numbers and data of next of kin.

New applicants can register online at the Inland Revenue Board website or fill up the BR1M 2014 application form. The form can be obtained at IRB branch offices and service centres as well as Federal Development Department and Welfare Services Department.

Husni said the government wanted people to get higher salaries over the long term instead of BR1M or book vouchers for students.

“What we are doing is to ensure that investments can be injected into high-technology industries so that more jobs can be created, thus increasing household incomes.”

Source: New Straits Times Online