Initiatives to help youth be more self-reliant

PETALING JAYA: Youth can smile as they have been given more opportunities to be self-reliant in Budget 2023.

Young entrepreneurs can now establish businesses as the government has allocated RM305mil under loans.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the special loan facilities would be provided through SME Bank, National Entrepreneur Group Economic Fund (Tekun), Majlis Amanah Rakyat (Mara), Bank Simpanan Nasional (BSN) and Agrobank.

And with the mushrooming of food trucks and stalls mostly run by youth, he said another RM50mil would be given through BSN under the Malaysian Family Hawker Initiative.

Youth are eligible to take up loans of up to RM50,000, which will benefit about 10,000 young people nationwide.

To encourage youngsters to generate income through ehailing services, the government agrees to bear the licence fee under the MyPSV programme and the B2 class motorcycle licence fee.

Tengku Zafrul said the Tekun Youth Mobilepreneur Scheme would continue, with RM10mil being allocated by the government to help young individuals involved in delivery services using motorcycles.

Besides that, the ePemula programme will be continued, and this time, there will be an increase of RM50 as the government has decided to give a one-off RM200 from next year.

It will benefit two million youth aged 18 to 20 and full-time students aged 21 and above.

He said the programme would cost up to RM400mil.