PRIHATIN package for SMEs a bonus, say SME owners

Small and medium enterprise (SME) owners have welcomed the additional RM10 billion allocation for them under the Prihatin Package for SMEs (Additional Measures) announced by Prime Minister Tan Sri Muhyiddin Yassin today, saying it is a bonus.

Dhiya' Legacy and Dhiya' Zulhilmi Consultancy founder Dhiya Zulhilmi Daud, 28, said the package is more comprehensive, and ensures SMEs' continued viability while preventing widespread job losses even after the Movement Control Order (MCO) ends.

Under the package, SMEs may apply for loans at zero interest compared with a low rate of two per cent previously, while the condition that they register with the Inland Revenue Board (LHDN) and Companies Commission of Malaysia (CCM) is a brilliant idea, she told Bernama.

Leny Adam, 44, praised the government's initiative as timely, saying many SME operators have little capital and have been badly affected by the COVID-19 pandemic.

Meanwhile, Malaysian SME Association national president Datuk Michael Kang Hua Keong said the package would help nearly 700,000 micro SMEs with limited cash flow.

Under the Prihatin Package for SMEs (Additional Measures), the government will introduce a RM2.1 billion Prihatin Special Grant, with RM3,000 to be allocated to each eligible micro SME nationwide.

Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) president Datuk Abdul Fattah Abdullah also lauded the government's initiative, and urged the government to channel some of the allocation to cooperatives so they can help the micro entrepreneurs under them.

He said cooperatives, which are registered with the Cooperatives Commission of Malaysia instead of CCM, also deserve some allocation as they also conduct business activities just like SMEs and have been similarly affected by the COVID-19 outbreak.

-- BERNAMA