RM113mil given to help uplift community and individuals
PUTRAJAYA: More than RM113mil under three schemes has been given out to help Indian entrepreneurs and to uplift those from low income groups, says Datuk Seri Ramanan Ramakrishnan.
The Entrepreneur Development and Cooperatives Deputy Minister said a total of RM113.608mil has been distributed under the Prosperity Empowerment and A New Normal for Indian Women (Penn), Bank Rakyat Indian Entrepreneur Financing (Brief-I) and the Spumi (Indian Community Entrepreneur Development Scheme) Goes Big.
Under Penn, which is under Amanah Iktihar Malaysia and meant for Indian women entrepreneurs, RM22.742mil has been given out to 2,644 individuals, he said.
The RM50mil fund is available to even those who are bankrupt or blacklisted.
As for the Brief-I scheme where applicants are eligible for up to RM1mil in financing, Ramanan said RM36.866mil has been distributed benefiting 426 Indian entrepreneurs.
Meanwhile, more than 2,000 entrepreneurs have received a total of RM54mil under the Spumi Goes Big scheme, he added.
“Almost RM54mil has been distributed to the community, and more applications are steadily coming in,” Ramanan said, adding that funding for the scheme has been increased from RM30mil to RM60mil.
He made these announcements in an interview with selected media at his office here.
He added that another fund, the Business Accelerator Programme for Indian Small Business (I-BAP) that was launched on Sept 27, has benefited 61 Indian companies with matching grants.
He said next year the government will create four to five new initiatives while funding for the present schemes will increase as Prime Minister Datuk Seri Anwar Ibrahim has instructed for more efforts to help the community.
He also highlighted that for the first time in 100 years, a conference was organised to set out a roadmap for cooperatives run by the Indian community.
On a related matter, Ramanan said that the government is making great strides in reducing the numbers of the hardcore poor.
“We are very close to closing the gap. Not only among the Indian community but also among the Malay and Chinese communities,” he said.
The number of Indian hardcore poor has dropped significantly in the past two years, he added.
The government through agencies such as the National Institute of Entrepreneurship (Insken) ensure that individuals and families do not fall back into hardcore poverty by providing them with guidance and opportunities.
Hardcore poor, he explained, are those who cannot even afford daily meals, while those who are poor have food but struggle to pay their bills.
