MVR 35.1 million disbursed as income support allowance

A total of MVR 35.1 million has been issued as income support allowance.

According to the Ministry of Finance, the MVR 35.1 million was disbursed to 8,488 individuals by August 2.

The income support allowance scheme was introduced by the government in May, as a relief for individuals experiencing financial difficulties as a result of employment issues due to the Covid-19 crisis.

Under the support scheme, government will grant an allowance of up to MVR 5,000 to individuals that fall into four main categories: those that were dismissed or suspended from employment, individuals on leave without pay, individuals facing salary deductions and freelancers.

All individuals employed before March 1, currently facing dismissals or suspensions and placed on leave without pay are eligible to receive an allowance of MVR 5,000 under the scheme.

The three-month allowance, totaling MVR 15,000, will be awarded from April to June.

Eligible individuals are to receive the income support allowance monthly, before the 15th day and applicants must be aged between 18 and 65 years.

The regulations under the income support allowance state that criminal action will be taken against individuals who provide false information when applying.

Under the recovery loan scheme, a total of MVR 185.6 million was disbursed for 1,012 businesses by July 30 while MVR 12.4 was issued for 415 self-employed individuals.

In total, MVR 198 million has been issued for 1,427 individuals under the loan scheme.