KUALA LUMPUR: PETRONAS will increase two categories of allowance for sponsored students to address the rising cost of living, says the Prime Minister.
Datuk Seri Ismail Sabri Yaakob said this will benefit 2,267 scholars studying locally and abroad.
The two categories are book and study materials allowance and onboarding allowance
The books and study materials allowance will be increased from RM1,000 to RM1,500 for students in Malaysia and an additional allowance of RM500 for students abroad.
Meanwhile, the onboarding allowance for new scholars will be increased from RM4,500 to RM5,000.
“The increase of these two allowances takes into account the rising cost of living and this assistance is expected to ease the burden of students and parents and further facilitate the learning process of students,” he said at the PETRONAS Education Sponsorship Programme (PESP) ceremony at the KL Convention Centre here.
This year, PETRONAS sponsored 600 outstanding Sijil Pelajaran Malaysia (SPM) 2021 students to pursue their tertiary education.
Of the number, almost 80% of scholars are underprivileged students.
This year also marked the highest number of sponsorships awarded in a year by the company, with an investment value of more than RM340mil.
