Chan: Banks have to support SMIs

  • Nation
  • Friday, 17 Jan 2003

KUALA LUMPUR: The pressure is now on banks to provide loans to small and medium industries (SMIs), said Deputy Finance Minister Datuk Chan Kong Choy. 

He said Bank Negara had been told to watch the lending activities of banks closely to ensure the availability of sufficient funds for SMIs. 

“We have instructed banks to give more attention and emphasis to SMIs because they are important for continuous growth in the country,” he said after launching the Sports Toto Malaysia Sdn Bhd ang pow donation campaign at the Selangor Chinese Assembly Hall here yesterday. 

Chan said the Government had received many complaints from SMIs about the difficulty of getting bank loans.  

He said the loans were important to help SMIs tide over difficult periods without affecting operations. 

Chan added that banks should also be more ready to provide small loans to individuals starting small businesses. 

He said SMIs and small-time business operators were important components of the Government's effort to spur domestic demand and growth. 

Chan said the country was poised to achieve its target growth despite global uncertainty. 

“Yes, we can achieve a higher growth rate than four percent,” he said, adding the Government was more bullish about this year's growth compared to last year's. 

Earlier, Chan praised Sports Toto for its efforts to help the poor and elderly. 

He said it had spent millions of ringgit to bring joy to the less fortunate since 1989.  

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