Govt set to discuss on special moratorium for SMEs

The moratorium will assist the group in coping with their recovery post pandemic and the recent increases of OPR

by ANIS HAZIM / Pic by Bernama

THE government is set to discuss the special loan moratorium for small and medium enterprises (SMEs) with the relevant ministries soon, Prime Minister (PM) Datuk Seri Ismail Sabri Yaakob (picture) said.

He said the discussion will involve the Entrepreneur Development and Cooperatives Ministry (Medac) and the Finance Ministry (MoF).

“I can’t just simply say (on the moratorium) — we will discuss with Medac and MoF,” he told reporters after launching the National Biotechnology Policy 2.0 (DBN 2.0) yesterday.

The PM’s revelation is in response to the recent proposal by the National Recovery Council chairman Tan Sri Muhyiddin Yassin of a special moratorium for SMEs, especially those who were still struggling to recover from the post pandemic coupled with the rising of the Overnight Policy Rate (OPR).

On the other hand, Ismail Sabri announced that the government has approved an allocation of RM5 million to encourage the development of local companies in the biotech industry through the Bio-based Accelerator (BBA) programme.

He said the approval is a result of the consultation between the Science, Technology and Innovation Ministry (Mosti) and MoF.

“The BBA implemented by Bioeconomy Corp is very significant since Mosti has an ecosystem that is conducive to supporting the development of the national biotechnology industry for the wellbeing of Malaysian families,” Ismail Sabri said.

Ismail Sabri also announced that the government has approved an additional RM2 million to enable the BioMalaysia Exhibition to be organised in 2023.

“I hope that BioMalaysia will be successfully organised in 2023 and attract more industry players as well as foreign and local investors,” he said.

He highlighted that the government would support DBN 2.0 until 2030.

“DBN 2.0 will improve the strategy in the previous DBN which is in line with developments and trends at the global level,” he added.

DBN 2.0 would also ensure the field of biotechnology will develop rapidly and progress in line with the aspirations of making Malaysia a high-tech country by 2030.