More funding for bumiputra development

The Star

7 November 2020

More funding for bumiputra development

PETALING JAYA: The budget for bumiputra development programmes has been increased from RM8bil to RM11.1bil.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the initiatives would help bridge the socioeconomic disparity between the bumiputra and other races.

“A sum of RM6.5bil will be allocated to promote access to quality education at bumiputra-based institutions such as Majlis Amanah Rakyat (Mara) and Universiti Teknologi Mara (UiTM),” he said when tabling the Budget yesterday.

Another RM4.6bil would be allocated to empower bumiputra entrepreneurs, including financial assistance for bumiputra SME through Syarikat Jaminan Pembiayaan Perniagaan (RM2bil), professional development and other capacity-building programmes (RM1.3bil), Bank Pembangunan Malaysia and SME Bank capacity building programmes (RM800mil), and financing of SME and micro SME through TEKUN and PUNB (RM510mil).

He also announced the setting up of a RM300mil private hospital by Pelaburan Hartanah Bhd on Malay reserve land in Sungai Penchala, with RM750mil allocated to the firm under the 12th Malaysia Plan.