Government will be providing $7 million to help ease the financial burden on Micro Small and Medium Enterprises (MSME’s).

In his budget address, Minister for Economy, Aiyaz-Sayed Khaiyum says the MSME’s have been hit hardest by the targeted lockdowns to contain the virus.

Effective from 1st August for a period of 6 months, MSMEs with a turnover of less than $1.25 million dollars that are paying commercial electricity rates will now pay residential rates, with the Government subsidising the difference.

This is expected to assist over 18,700 MSMEs.

Sayed-Khaiyum says apart from this, commercial customers will get four weeks to pay their electricity bill without disconnection.

This extended bill payment will be provided for the next 6 months, from 1 August 2021 to 31 January 2022.