KUALA LUMPUR, June 25 — More than RM4 billion under the RM5 billion Bank Negara Malaysia’s (BNM) Small and Medium Enterprise Stabilisation Relief Facility (SME SRF) is still available to help micro, small and medium enterprises (MSMEs) with their cash flow and to lower operational disruptions.
Economy Minister Akmal Nasrullah Mohd Nasir said that as of June 18, over RM700 million has been approved for more than 1,000 SMEs.
“More than RM4 billion of the allocation is still available, indicating sufficient room to help companies manage cash flow and reduce operational disruptions,” he said during the Minister’s Question Time session in the Dewan Rakyat today.
He was replying to a question from Mohd Syahir Che Sulaiman (PN-Bachok) about mitigation measures under the National Economic Action Council (MTEN) to address rising job losses and business downsizing amid global crises, and the results from these measures.
Akmal Nasrullah said the government also provides financing guarantees under Syarikat Jaminan Pembiayaan Perniagaan Bhd, amounting to RM5 billion, to support MSME financing.
He said enterprises facing cash flow constraints can contact their financial institutions for solutions that suit their business needs, and that financial institutions must process applications within seven working days.
He said the government also activated the RM710 million Progressive Acceleration for Capability and Employability (PACE) Economic Resilience Package as an intervention to protect the employment sector and support business continuity.
“The package focuses on four pillars, namely, social protection, training and job placement, gig worker empowerment, and strengthening young talent and SMEs.
“Under PACE, more than RM580 million has been allocated through SOCSO to strengthen the Employment Insurance System to help workers who lost their jobs, in addition to RM100 million through HRD Corp for training and job placement supported by the MYFutureJobs platform,” he added.
He said the government has also allocated RM20 million to train gig workers through the Skills Education Fund Corporation and RM10 million through TalentCorp to support industrial training among MSMEs and start-ups.
Meanwhile, in reply to Mohd Syahir’s supplementary question on the global supply crisis, Akmal Nasrullah said the government will table a ministerial statement in the Dewan Rakyat on June 29, subject to parliamentary approval for debate.
