Tengku Zafrul: Importance of SMEs spurs measures

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz attending at the opening ceremony of the Main Block of the Alor Setar Customs Office at Persiaran Sultan Abdul Hamid on March 21. - Bernama

ALOR SETAR: The significant contribution by the small and medium enterprises (SMEs) to the country’s gross domestic product (GDP) spurred the government to initiate various measures and assistance to rejuvenate the sector, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He acknowledged that the sector is also the biggest contributor in employment, constituting 70% of the country’s workforce.

“Many of the economic stimulus packages introduced earlier such as the Prihatin Rakyat economic stimulus package, KitaPrihatin and Penjana were focused on the micro and small and medium enterprises (MSMEs).

“We could see the impact of the movement control order since March last year, on the MSMEs, so we continued to assist them with allocations from the government, ” he said after launching the Pekan Rabu Digital Programme here on Saturday.

Tengku Zafrul further referred to the recent initiative called the Strategic programme to empower the people and economy or Pemerkasa, which was also aimed at propping up the SMEs.

“For Pemerkasa, the government set aside an additional RM500mil in micro-credit financing through programmes under the relevant agencies, ” he said. — Bernama

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