Medac supports RM11.5m initiative under Pemerkasa+

by BERNAMA / pic by TMR FILE

THE Ministry of Entrepreneur Development and Cooperatives (Medac) fully supports the provision of incentives for entrepreneurs, comprising grants and funding amounting to RM11.5 million under the Strategic Programme for Empowering the People and Economy Plus (Pemerkasa+) stimulus package.

Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar (picture) described the initiative as a right move to help entrepreneurs, including micro, small and medium enterprises maintain business resilience in navigating through the challenging period during the movement restrictions.

Malaysia, which is currently under the third Movement Control Order, is placed under a full lockdown for two weeks from yesterday to curb Covid-19.

Wan Junaidi said the Pemerkasa+ initiatives for affected entrepreneurs included Targeted Bank Loan Assistance for micro-enterprises and SMEs that are not allowed to operate during the MCO, a 30% discount on rental of premises under the Majlis Amanah Rakyat (Mara) Prihatin programme and the RM1.5 billion Wage Subsidy Programme.

Other initiatives are the Prihatin Special Grant (RM1.5 billion), as well as Micro Credit Financing under Bank Simpanan Nasional, National Entrepreneur Group Economic Fund, Mara, SME Corp and Yayasan Pembangunan Ekonomi Islam Malaysia worth RM1.5 billion.

Operators of hotels, travel and tourism agencies, shopping premises and shopping complexes, convention centres, theme parks and local airline offices are also eligible to receive a 10% electricity bill discount for an additional three months from July to September 2021.

Besides that, there will be special tax cuts on owners of buildings and business spaces who offer at least 30% rental discounts to SMEs and non-SMEs for six more months until Dec 31, 2021.