Increase in allocations for microcredit facilities

OhTongKeong 20151101 Budget 2016PENANG — Penang Gerakan hailed the extra allocation of RM90 million for the Chinese hawkers & petty traders microcredit facilities. Also, another RM 40 million for the development of the Chinese New Villages by Prime Minister Dato’ Seri Najib Tun Razak in the 2016 Budget presented on October 23.

Penang Gerakan Secretary Oh Tong Keong said in a statement that, even though the support of the Chinese voters for the Barisan Nasional government has been reduced, it is obvious that the federal government has not discarded the interests of the Chinese community. The special allocations for Chinese community in this sector are not reduced, as expected by many, but on the contrary they are increased.

Oh said that since the launch of the Chinese hawkers & petty traders microcredit facilities, Gerakan has been helping to promote the scheme as well as helping the traders concerned to apply for the loan. Many successful applicants have utilized this loan to start or restructure their business. The facts are undeniable.

For Budget 2016, not only there was a reduction in the allocation for the Chinese hawkers & petty traders microcredit scheme, extra funds are added. The opposition, which kept on spreading their long-standing lies that the Chinese community has been side-lined by the Barisan Nasional government, must be greatly disappointed.

Oh pointed out that the BN federal government had also allocated special funds amounting to RM100 million in the 2016 budget for the Indian community in collaboration with NGOs and technical colleges, geared towards upgrading their skills. This showed that the government has endeavored to meet the requirements of the various ethnic communities.

Besides all these perks, the Chinese and Indian communities can also get funds from other sources such as the annual allocations for the vernacular schools, BR1M, the tax rebates etc.

He expressed hope that the relevant Ministries and other government agencies would utilize the allocations from the budget carefully and diligently. It is also hoped that general public will not be misled by the opposition’s propaganda to forego all the perks made available from Budget 2016 for their interests and benefits.

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