Putrajaya takes steps to ensure Prihatin measures reach businesses, Malaysians fully and quickly

A man watches a live telecast of Prime Minister Tan Sri Muhyiddin Yassin in Shah Alam on March 2, 2020. — Picture by Miera Zulyana
A man watches a live telecast of Prime Minister Tan Sri Muhyiddin Yassin in Shah Alam on March 2, 2020. — Picture by Miera Zulyana

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KUALA LUMPUR, April 6 — The government has established the Laksana unit in the Finance Ministry to ensure all initiatives from the Prihatin stimulus package, including today’s expansion for businesses, are implemented swiftly and efficiently.

Prime Minister Tan Sri Muhyiddin Yassin said that the unit will monitor and report on the developments about the stimulus measures directly to him and the Finance Ministry.

He also announced a new website for businesses to apply for the incentives from the Prihatin package.

“To support the delivery of the Prihatin initiative, the IMSME.com.my portal operated by Credit Guarantee Corporation (CGC) with the support of Bank Negara Malaysia (BNM) is ready to accept the small and medium enterprises (SME) loan application which I announced today,” he said in a special address today.

“So, in addition to applying for loans directly from banking institutions, SMEs also have the option to apply for loans through the IMSME portal. The portal also provides myKNP, a financing advisory service for SMEs,” he added.

Muhyiddin announced today an additional RM10 billion stimulus package for SME, on top of the RM250 billion already announced before.

He also said that loans for SMEs under the previous Prihatin stimulus package will be interest-free.

He added that the National Entrepreneur Group Economic Fund (Tekun Nasional) will also offer RM200 million in microloans on top of the RM500 million already available through Bank Simpanan Nasional.

Muhyiddin said the government will also consider further measures for sectors not specifically covered in today’s announcement or previously.

“Among the micro and small enterprises, the government also takes into account the impact on new companies or startups, where the company’s investment resources are affected.

“Startups are an enabler factor and an important driver of technology and human capital development potential that could set the country towards Industry Revolution 4.0,” he said.

Earlier, he said the assistance from the original Prihatin package was already being paid out and urged eligible recipients to continue applying in the event their names are not already listed.

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