Kuskop proposes seven new initiatives for Budget 2023

KUALA SELANGOR - The Entrepreneur Development and Cooperatives Ministry (Kuskop) has proposed seven new initiatives that focus on the comprehensive development of entrepreneurs in Budget 2023.

Its minister, Tan Sri Noh Omar, said he had previously held an engagement session with the Finance Ministry to propose these initiatives.

"We have seven new initiatives to reach out to entrepreneurs, including graduates and some other groups. We hope to get two or three of the seven proposed initiatives approved,” he told reporters after the ministry’s Entrepreneurs and Cooperatives Tour programme here today.

The programme was officiated by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

Elaborating, Noh said the new initiatives would assist all types of entrepreneurs, including informal and micro-entrepreneurs and small and medium enterprises.

"Before this, we introduced the Informal and Micro Financing Scheme (SPIM), and we received an allocation of RM200 million to offer loans of up to RM10,000 at a zero interest rate.

"This scheme is quite good, and we need to expand it to other groups of entrepreneurs,” he said.

Meanwhile, Tengku Zafrul said the ministry is still studying the initiatives proposed by Kuskop, adding that they were excellent and important for the country’s economy.

Earlier, a total of RM15,472,223.60 in funding was channelled to 34 entrepreneurs and cooperatives through TEKUN Nasional, SME Corporation Malaysia, Bank Rakyat, Malaysia Cooperative Societies Commission and Amanah Ikhtiar Malaysia. - BERNAMA