PUTRAJAYA: The Rural Development Ministry has announced several incentives to help entrepreneurs and small businesses under the purview of five regional development authorities which have been affected by the Movement Control Order (MCO).
In a statement today, its minister Datuk Dr Abd Latiff Ahmad said the incentives include a 30% discount on rental of premises and land leases for six months; a three-month exemption on rental payments for houses, as well as moratoriums on house mortgage repayments for three months and microcredit financing or loan repayment for six months.
Abd Latiff said the estimated total cost for the initiatives is RM2.13 mil, adding that a total of 10,000 households are expected to benefit from the initiatives.
He said 172 entrepreneurs under the purview of the Kedah Regional Development Authority are expected to benefit from the 30% discount on rentals of premises from April to September.
Meanwhile, some entrepreneurs and small businesses under the Penang Regional Development Authority can enjoy a six-month moratorium on financing repayments, discounts on rentals of premises and land leases for six months and a six-month exemption on rental payments for tenants of PPRT Tok Alang, Seberang Perai Utara beginning April 1.
Additionally, the Southeast Johor Development Authority will be providing rental exemptions for premises from April to December (subject to the MCO) and a three-month suspension of rental payments for village houses and the Bandar Tenggara flats, starting from March.
Concurrently, entrepreneurs under the South Kelantan Development Authority (KESEDAR) Economic Loan Scheme will be given a six-month moratorium on repayments, while others would benefit from a 30% discount on rentals of business premises starting April 1 as well as rent exemptions during the MCO period.
In the meantime,the Central Terengganu Development Authority will be giving a 30% discount for six months to entrepreneurs renting its business premises beginning from April 1, exemption on rental payments for premises during the MCO and deferment of rent or house mortgage repayments for three months starting from April. – March 27, 2020, Bernama
