THE Government’s decision to cease enforcing a blanket movement control order (MCO) is a breath of fresh air for most Malaysians, especially for the small and medium enterprises (SMEs).
This is in light of the recent MCO in Klang Valley, Penang and Johor complicating businesses for most SMEs in those states.
According to a survey by Small and Medium Enterprises Association (SAMENTA) Malaysia, 45% of the SME respondents indicated that they could have lasted only two months before running out of cash if the Government extended the MCO any further.
“The assurance by Prime Minister Tan Sri Muhyiddin Yassin (to adopt) a targeted approach is most welcomed by our SMEs,” said SAMENTA chairman for policy and government relations Datuk William Ng.
Believing that the supplementary economic recovery programme Pemerkasa is a timely aid to SMEs, the association is relieved that the Government has introduced a Prihatin 3.0 grant for eligible SMEs and added RM500 mil in soft loan to be disbursed via Bank Simpanan Nasional (BSN), Tekun Nasional, Majlis Amanah Rakyat (MARA) and SME Corporation Malaysia (SME Corp).
SAMENTA also welcomes the extension of the wage subsidy programme for a further three months for the worst affected industries, such as tourism, trading and retail, and the additional grants and loan facilities for automation and digitalisation under Malaysian Investment Development Authority (MIDA) and the Malaysian Industrial Development Finance Bhd (MIDF).
In addition, Ng said that SAMENTA has been educating its members to educate and persuade their employees and families to sign up for the National COVID-19 Immunisation Programme.
“We will continue to work with all Ministries and agencies to find ways to mitigate the continued toll of the pandemic on our SMEs, and to support the country’s economic recovery programme,” he concluded. – March 20, 2021
