KUCHING: Allocations for small and medium enterprises (SMEs) is more inclusive and comprehensive for the rakyat in the Budget 2023.
Sarawak Federation of Chinese Association (SFCA) president Datuk Richard Wee said the budget seems quite comprehensive and has covered most areas and sectors especially the micro, small and medium enterprises (MSMEs) with financial scheme and reduced taxation to provide the necessary assistance for their recovery.
“Financial aid are also given to the lower income group in giving RM500 to the EPF contributors who has lower than RM10,000 in their EPF account and other financial aid to the lower income and needy group.
“As for Sarawak, it could have a bigger allocation for the rural development and other fundamental utilities and not for just the dilapidated schools,” he added when contacted by New Sarawak Tribune today.
However, Wee noted that the budget did not emphasis on green, sustainability incentives for EV and other renewable incentives.
“Another concern is the intention of reintroducing of Capital Gains Tax which can be a disincentive to the business community.
“But overall, it is more inclusive and comprehensive budget for the rakyat,” he said.
Prime Minister and Minister of Finance Datuk Seri Anwar Ibrahim said the government is allocating RM100 million under the SME grant scheme to support business automation and digitalisation activities.
He said businesses should quickly adopt digital technology to widen the market for their products and services.
In addition, funds totalling RM1 billion are also provided under Bank Negara Malaysia to assist the micro, small and medium enterprises to automate and digitalise their operations.
