KOTA KINABALU, March 22 — The Pemerkasa stimulus package, announced by Prime Minister Tan Sri Muhyiddin Yassin, has given the country’s economic sector a glimmer of hope in these trying times.
Many business associations have thanked the Perikatan Nasional-led government for their commendable efforts in keeping the businesses alive.
It is understood that the RM20 billion Pemerkasa assistance package includes an additional RM11 billion fiscal injection from the government with five main thrusts and 20 strategic initiatives.
Federation of Sabah Industries (FSI) president Richard YH Lim commended Muhyiddin for the excellent effort.
“We welcome the announcement of the Pemerkasa package, worth RM20 billion, by our beloved Prime Minister Tan Sri Muhyiddin, which focuses on the 20 strategic initiatives to revive the economy and provide support to the businesses,” said Richard.
“This is the sixth stimulus package announced since the start of the pandemic. Pemerkasa came at the right time to revitalise the economy,” he added.
Richard opined that the package would provide a huge relief for the tourism players in the country, some of which are in the brink of ‘closing shop’.
He is positive that the stimulus package would benefit both the small and big businesses in the country.
Richard further suggested that the government should ease the criteria to apply for the allocation and for the number of recipients to be increased.
“We also hope that the government can speed up its efforts in paying the wage subsidies,” he added.
SME Sabah president N K Foo thanked the Prime Minister for extending the Wage Subsidy Programme for another three months from March 2021.
“Due to the closure of the international borders and the interstate travel restrictions many businesses have yet to recover,” he said.
Foo pointed out that the low infection rates in Sabah and a few other states as well as the the vaccination programme have shown that the pandemic is under control.
“Although it is expected that the economy will soon recover but it will take some time before SMEs can regain sufficient sales to a survival level.
“Therefore, continued assistance from the Government in the form of Wage Subsidy is still much needed,” he said.
“The allocation of an additional RM2.5 billion to RM5 billion for these projects across Sabah and Malaysia to contractors, Class G1 to G4, in the locality where the projects are carried out will not only help to give much needed cash flows to these SMEs but it will also help to reduce the risks of spreading the Covid-19 virus,” he said.
“The sixth initiative of providing various forms of micro credit facilities to Micro SMEs is definitely helpful; especially for those who need funds to restart or reboost their business,” he added.
Kota Kinabalu Chinese Chamber of Commerce and Industry (KKCCCI) president Datuk Michael Lui said the country had successfully implemented numerous stimulus packages during the pandemic.
He said the Pemerkasa package would certainly benefit the B40 community in the country.
“The variety of stimulus packages announced during the pandemic have also benefitted those in the tourism industry,” Michael said in a statement.
He added that the RM500 million allocation for micro credit proved that the government truly cares for the business community in the country.
“It is hoped that this package would benefit Malaysia as a whole, specifically the state of Sabah,” Michael added.
Positive measures to help in economic recovery — KKCCCI
Kota Kinabalu Chinese Chamber of Commerce and Industry (KKCCCI) president Datuk Michael Lui welcomed Prime Minister Tan Sri Muhyiddin Yassin’s announcement of a RM20 billion economic stimulus package, the Strategic Programme to Empower the People and Economy (Pemerkasa), which is aimed at assisting the unemployed and the poor particularly the B40 group, as well as the tourism and retail sectors.
He said Pemerkasa, the sixth assistance package introduced by the government since the Covid-19 pandemic, comprised 20 strategic initiatives in accelerating economic growth, supporting business and continuing targeted assistance to people affected by the Covid-19 crisis.
“These assistance packages are positive measures taken by the government to protect the welfare of people, ensure the sustainability of businesses and aid economic recovery that has been gravely affected by the pandemic.”
He said the RM5 billion allocated for immunisation programme, doubling the funding for small-scale projects from RM2.5 billion to RM5 billion this year, RM1.2 billion worth of assistance for members of the B40 group who have lost their income, RM1.1 billion for wage subsidies and employment incentive, RM920 million for the tourism and retail sectors, as well as an array of assistance for the unemployed as well as financing facility at low interest rate for small and medium enterprises (SMEs) reflected the government’s commitment in alleviating the burden of the people and businesses.
He said Pemerkasa offered a much broader coverage of financial assistance to the people whose livelihoods had been affected by Covid-19.
Lui hoped that the government would make sure the target groups received the assistance without delay.
“We hope that the government will strictly monitor the implementation of the assistance package and reduce unnecessary bureaucracy for the people to truly benefit from Permerkasa.”
Pemerkasa brings relief to micro-entrepreneurs
The latest People and Economic Strategic Empowerment Programme (Pemerkasa) stimulus package brings a sigh of relief to Sabahan micro-entrepreneurs with the announcement of Prihatin Special Grant (GKP) 3.0.
GKP was an initiative of the federal government to support businesses to recommence operations after the announcement of the first movement control order (MCO) under PRIHATIN package.
Every eligible micro-SME received a one-off assistance of RM3,000 under PRIHATIN stimulus package, while the GKP 2.0 was also continued in the previous PERMAI package with RM1,000 one-off cash assistance.
Siti Nooraliyana Mohd Ali, a 26-year-old hawker in Tanjung Aru Beach said she managed to purchase a freezer, wet ingredients, display table and improved her packaging with the first batch of GKP.
“The second GKP is expected to be credited into our personal account this month and the announcement of Pemerkasa saying that the registration would start in April.
“I have been actively selling assorted traditional kuih for the part four years, but our business was badly affected during the MCO period.
“Since we are not allowed to open our stall during the MCO, we started selling online some of our best sellings such as Kuih Keria and sambals,” she said.
Nooraliyana, who is a mother of one said the application of GKP was very easy, in fact she only managed to register for the second batch due to some miscommunication.
However, she did not apply for the second phase of GKP as it will be automatic. She is hoping the same method will be used in the GKP 3.0 under Pemerkasa.
“To me, the one-off cash assistance is showing that the government is listening, and they are translating it into action,” she said.
Commenting on the financial support through BSN, TEKUN, MARA and SME Corp under this package, Nooraliyana said she is hoping the government will look into improving the system and services of Amanah Ikhtiar Malaysia (AIM), as many women entrepreneurs in Sabah are still depending on this weekly repayment loan service.
As a near-perfect repayment record in the country, AIM should be given the opportunity to improve their service by making it convenience to borrowers, for example preparing online payment method, digitalisation weekly meeting records and also incentives to those who are 100 per cent committed in their repayments.
“AIM is the easiest way to borrow money, and it is suitable for hawkers like us who earn on a daily basis because we are paying our loans every week. It also helps us to focus on what we do, and teaches us to be honest in business.
“So I hope the government will look into empowering more women by improving AIM,” she added.
Source: https://www.malaymail.com/news/malaysia/2021/03/22/pemerkasa-stimulus-package-offers-glimmer-of-hope-for-economic-sector-amid/1959878