Putrajaya has approved 6,507 applications involving RM1.23 billion under the National Economic Recovery Plan’s (PENJANA) small and medium enterprise (SME) financing scheme as of January 29.
With a total allocation of RM2 billion, the PENJANA SME Financing scheme prioritises SMEs that have never received any bank financing previously.
The Ministry of Finance Malaysia (MoF) has also approved funding totalling RM55.4 million for 277 applications in the PENJANA Tourism Sector and Micro SMEs which are still impacted by the Covid-19 outbreak.
“The Bumiputera Relief Financing (BRF), which was introduced by Perbadanan Usahawan Nasional Bhd (PUNB) with a fund of RM200 million, saw 519 SMEs receive funding of RM143.8 million, compared to 494 SMEs receiving a total of RM135.5 million the previous week,” he said.
At the 40th Economic Stimulus Implementation and Coordination Unit Between National Agencies (LAKSANA) report, the Finance Minister also said that PENJANA’s third objective in stimulating the economy is to exempt service tax for hotels up to June 30.
“Among the initiatives to support the tourism sector are individual tax relief of up to RM1,000 on travel expenses as well as full exemption on tourism tax for foreign tourists,” he concluded.