PUTEAJAYA is working to recognise one million informal small- and medium-size enterprises (SMEs) so that they are eligible for government aid, Wan Junaidi Tuanku Jaafar told the Dewan Rakyat today. 

The entrepreneur development and cooperatives minister said this would give the SMEs access to government assistance in the form of advice as well as financial aid.

He was responding to a supplementary question from Nik Muhammad Zawawi Salleh (Pasir Puteh-PAS) on the government’s efforts to reduce the dependence of businesses on grants. 

Wan Junaidi told the house his ministry officials have discussed with Finance Ministry representatives to increase the allocation to Tekun Nasional under the Prihatin Special Grant. 

This was in response to Akmal Nasir (Johor Bahru-PH), who asked how many SMEs were left out from receiving aid from the Prihatin fund.

Akmal noted that some business segments, including taxi drivers, have complained of a lack of assistance.

Acknowledging that there is a limit to the allocation, Wan Junaidi said the Finance Ministry is expected to make a decision in a week or two. 

Besides Tekun Nasional, there are other agencies offering financia assistance to SMEs and micro-SMEs .

This includes Medac, which has rolled out a slew of initiatives through its various agencies to help SMEs weather the impact of the Covid-19 pandemic.

The aid includes monetary assistance, rescheduling of loan repayments, payment moratorium and  online training.

Tekun Nasional’s  Business Recovery Financing Scheme as of July 17 has received 25,660 applications for sums amounting to RM196 million while SME Bank’s special relief facilities has seen 940 applications for a total RM503 million. – July 20, 2020.