Free loans and grants for micro-SMEs
CORONAVIRUS | Putrajaya will offer zero-interest loans of up to RM10,000 and grants of RM3,000 for properly registered micro-SMEs.
Prime Minister Muhyiddin Yassin said the grants, which amounted to RM2.1 billion, will benefit 700,000 business owners.
CORONAVIRUS | Putrajaya will offer zero-interest loans of up to RM10,000 and grants of RM3,000 for properly registered micro-SMEs.
Prime Minister Muhyiddin Yassin said the grants, which amounted to RM2.1 billion, will benefit 700,000 business owners.
These companies must be registered with the Inland Revenue Board local governments and the Companies Commission.
Bank Simpanan Nasional and Tekun Nasional will be offering the zero-interest loans, which will be capped at RM200 million in total.
These were among the additional stimulus measures announced by Muhyiddin today specifically to address concerns of SMEs, with the goal of retaining two-thirds of Malaysia's workforce.
Muhyiddin also announced that the levy for foreign workers will be reduced by 25 percent for all work permits expiring between April 1 and December 31.
"This discount does not apply to domestic helpers," he said.
Meanwhile, Muhyiddin urged licensed moneylenders to emulate banks in providing a six-month moratorium for payment beginning April 6.
However, this was advice and not enforceable.
"I hope money lenders sympathise with the problems faced by their customers and will help them alleviate their financial burden," said Muhyiddin.
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