The Youth and Sports Ministry, together with the Sepang International Circuit (SIC), will fund the Moto2 rider for next season under the Angel Nieto Team.
The 25-year-old has dropped down to Moto2 after becoming the first South-East Asian rider to race in the MotoGP last year.
He finished 16th last year but has failed to impress this year, where he currently sits in 24th place with Red Bull KTM Tech 3.
Hafizh, who spent six years in Moto2 from 2012-2017, had to look for new sponsors for next year.
Youth and Sports Minister Syed Saddiq Syed Abdul Rahman, who has had a discussion with SIC chief executive officer Datuk Razlan Razali, said they would step in to assist the rider financially but he did not reveal the quantum or duration of their sponsorship.
“We will not ignore the motorsports industry. We’ve allocated millions of ringgit for Sepang International Circuit,” said Syed Saddiq.
“Even though Petronas doesn’t want to sponsor him, we will give the funding through SIC.
“There will be a specific fund for him to support his quest to bring honour for the country in Moto2.”
Meanwhile, Syed Saddiq lauded the initiatives of the National Athletes Welfare Foundation (Yakeb) in launching the National Legend’s Gold Bar Memorial Card yesterday to aid their foundation’s charity scheme.
Yakeb have come out with 0.5g gold bars as tributes to cycling legend Datuk Ng Joo Ngan, former sprinter Datuk M. Rajamani and bodybuilder Datuk Abdul Malek Noor.
Syed Saddiq said it was good to see Yakeb thinking out of the box to increase their coffers although the government had given RM3mil and introduced a special healthcare care for the former athletes.
“I’m glad that Yakeb are helping the former athletes but I hope more corporate companies will step in as well,” said Syed Saddiq.
Meanwhile, the foundation’s chairman Datuk Noorul Ariffin Abdul Majeed said the gold bar, which is worth RM165, can be purchased online or through Yakeb’s hotline.
“We’ve received about 300 bookings. We will produce at least 3,000 bars and hope companies will come forward to purchase them,” said Noorul.
Others set to be commemorated on the bar are Datuk Lee Chong Wei, the 1972 Olympics football team and also the 1992 Thomas Cup badminton team.