Govt relief on loan interest for micro businesses — Abg Jo

Abang Johari at a press conference announcing BKSS 2.0 at Wisma Bapa today (Apr 10, 2020).

KUCHING, April 10: Micro enterprises in Sarawak will benefit from paying interests on their loans for three and a half years.

Chief Minister Datuk Patinggi Abang Johari said the state, through the Ministry of International Trade, Terminal Industry and Entrepreneur Development (Mintred), will assist micro enterprises by providing interest free financing.

“To ease the financial burden of micro enterprises, the government will facilitate this sector in deriving the full benefits among all the assistance. Among the measures is to zerorise the two per cent interest rate for three and a half years under the existing micro credit scheme by Mintred.

“The micro credit scheme is operated by Agro Bank Bhd and Sarawak Economic Development Corporation (SEDC) with a maximum loan size of RM50,000 at 0 per cent interest rate for each enterprise.

“I hope our entrepreneurs would take opportunity of this scheme to apply through SEDC or Agro Bank counters,” he told a press conference at Wisma Bapa Malaysia here.

He was announcing the Sarawakku Sayang Assistance Package 2.0 to assist local businesses such as small, medium and micro enterprises, as well as hawkers and petty traders to overcome the loss of business as a result of MCO.

Abang Johari, who is the state Finance Minister, revealed that a total fund amounting RM50 million was made available for the scheme, which will cost the Sarawak government RM3 million. The whole package of the Sarawakku Sayang Assistance Package 2.0 is RM1.1 billion.

He said the additional grants and financial aid provided by the state government will help SMEs to reduce their cost of doing business, as well as sustaining their cash flows during the challenging time of MCO.

He assured that the Sarawak government will continue to be transparent in its spending.

Abang Johari said all actions are taken based on the provisions of the law and the state government will continue a prudent financial practice and good fiscal discipline to ensure that the state’s financial position remains strong and manageable. — DayakDaily