€10M Disbursed so far as part of COVID Wage Supplement for 83,000 Employees
- More than €10 million disbursed so far as part of the COVID wage supplement for 83,000 employees
- More than 2,000 applicants yet to reply to Malta Enterprise application approval email
- Ministry for the Economy presented a number of measures to the Health Authority for the gradual lifting of the current restrictions on various economic sectors
Minister for the Economy, Investment and Small Businesses Silvio Schembri said that the focus of the ministry’s work has now shifted on means to re-stimulate the economy once health measures start to be lifted gradually.
Minister Schembri said that after consulting several industry stakeholders, a number of measures were presented to the Health Authority for its consideration. The proposal includes a number of measures for the gradual lifting of a number of restrictions on several sectors of the economy. This will help to restart the economy gradually whilst making sure that the country does not run into the risk of a second wave of COVID-19.
“The economic support measures will not be stopped abruptly when businesses reopen but will remain in place until businesses would have started to recover substantially. I would like to thank all stakeholders for being proactive and for putting forward their own well-studied measures. It is crucial that throughout the transition from exit to restart strategy, everyone works hand in hand for our economy to come back on its feet”, said Minister Schembri.
Details were given during a virtual press conference addressed by Minister Schembri and Malta Enterprise CEO Kurt Farrugia.
Minister Silvio Schembri announced that during this week Malta Enterprise received around 2,000 new applications for the COVID Wage Supplement, meaning that the total amount of businesses that have applied so far amount to 18,204.
Minister Schembri explained that the majority of the applications were for the full wage supplement. This means that the amount of jobs that are to be saved through these economic support measures is now 83,000. Through the aid administered by Malta Enterprise, businesses and self-employed have already received in excess of €10 million as COVID19 Wage Supplement.
“Malta Enterprise is working around the clock to process as many applications as possible with the aim to process 50% of the applications by next week. The processing of applications requires Malta Enterprise to do several verifications on each application to ascertain that there are no abuses, assistance is only given to those eligible and to ensure the best use of public funds”, according to the minister.
Malta Enterprise CEO Kurt Farrugia said that the scope isn’t to point out the increase in the number of applications received but indeed we are recognising also those companies that are being resilient amid such circumstance hence our role as a corporation remains that of sustaining those who require assistance in a just and timely manner.
Mr Farrugia explained that out of the 18,204 applications received so far, 7,641 have been processed, whilst 5,537 have been approved. Once an application is processed, an email is sent to the applicants notifying them whether their application was approved and if approved it also indicates the amount of wage supplement that is being given to the applicant. The applicant then needs to accept the supplement or has the option to partially accept or reject the application giving more justification and evidence to their reply.
Mr Farrugia said that a good number of applicants have not yet replied to the corporation’s application approval email. “I urge applicants to check their emails and reply to the corporation’s email so that the approved supplements can be disbursed directly to the applicants’ bank account”, said Malta Enterprise CEO Kurt Farrugia.
Successful applicants shall receive the COVID Wage Supplement with the backdated arrears.