Ministry to ensure stimulus package benefits businessmen

Wan Junaidi Tuanku Jaafar

KUCHING: The Ministry of Entrepreneur Development and Cooperatives (Medac) is committed to ensuring that targeted entrepreneurs would benefit from the federal government’s Pemerkasa programme.

Its minister Datuk Seri Wan Junaidi Tuanku Jaafar said the stimulus package for economic recovery focused on rehabilitation programmes and economic empowerment throughout 2021.

“We are committed to ensuring that this initiative can be enjoyed immediately by targeted entrepreneurs so that their business activities can continue.

“This is as well as recovering from impact of the economic slowdown due to the Covid-19 pandemic,” he said in a statement today.

Wan Junaidi said his ministry supported the RM1,000 Prihatin Special Grant (GKP) which was set to benefit about one million entrepreneurs and the additional RM500 million allocation for micro credit financing through BSN, Tekun, Mara and SME Corp.

“For informal sector entrepreneurs, Tekun Nasional will provide additional funds of RM60 million, mainly for the Informal Financing Scheme with a financing limit of up to RM5,000 for small-scale and home businesses,” he added.

He said Tekun would also expand its Mobilepreneur programme for the purchase of motorcycles and introduce the POS-preneur programme where an assistance of up to RM20,000 for vehicle repair and RM50,000 for truck purchase would be given.

“SME Corp will provide RM50 million to assist local small and medium-sized enterprises (SMEs)  get financing up to RM250,000 at as low as three percent interest,” he said.

Wan Junaidi said the Malaysian Cooperative Commission would provide financing incentives up to RM100,000  to help affected cooperatives  while SME Bank would provide a loan fund of RM200 million for finance the purchase of machines.

He added that women entrepreneurs would also be empowered through a RM30 million fund to help them transition to the online marketplace while BSN  would provide RM50 million for its micro financing scheme for businesswomen.

“The Tunas Usahawan Belia Bumiputera (Tube) programme will be funded to produce 250 new bumiputera youth entrepreneurs. Similarly, the New Gen Entrepreneur Online Bootcamp programme will be introduced to guide about 2,000 youth entrepreneurs,” he said.