Govt mulling special grant as relief for flood-hit MSMEs and informal businesses

PUTRAJAYA: A special grant is being considered to ease the burden of micro, small and medium enterprises (MSMEs) affected by the recent floods, says the Prime Minister.

Datuk Seri Ismail Sabri Yaakob said the Economic Action Council meeting which he chaired on Monday (Jan 24) discussed the effect of the floods on MSMEs as well as those who carry out informal businesses.

He said bodies such as the Statistics Department, Malay Chamber of Commerce, Associated Chinese Chambers of Commerce and Industry of Malaysia and Malaysian Associated Indian Chambers of Commerce and Industry shared the impact which the floods had on small businesses.

"They also presented several actions that can be put in place so that these enterprises can have a fresh start.

"The meeting has agreed in principle for a special grant to be given to micro and informal enterprise owners to relieve some of the burden.

"This is aside from other financial assistance provided by government agencies,” he said in a statement on Monday.

Two entrepreneurs from Taman Sri Muda, Shah Alam and Taman Sri Nanding, Hulu Langat also shared their experience, losses and problems with their businesses after the floods.

The Prime Minister said the Finance Ministry, Entrepreneur Development and Cooperatives Ministry, relevant agencies and chambers of commerce would discuss and draw up proposals to present to the government.

Follow-up visits to identified locations would be done to ensure the aid assistance programme for MSMEs reaches the target groups, he added.

"God willing, I will be announcing the initiatives after the details have been sorted out and finalised.

"The government remains committed to the wellbeing of the Malaysian Family," he said.