Wednesday, October 27th, 2021 at Money | News

THE Entrepreneur Development and Cooperatives Ministry (Medac) wants all of its agencies to assist small entrepreneurs, especially those affected by the Covid-19 pandemic, by easing its loan processes.

Its minister Tan Sri Noh Omar (picture) said there are 11 agencies under Medac such as the Malaysian Cooperative Commission, Tekun Nasional, SME Corp Malaysia, UDA Holdings Bhd and Bank Rakyat.

“I have asked the agencies under my ministry to facilitate the loan applications for entrepreneurs especially to the small, medium and enterprises (SMEs),” Noh said at the e-showcase programme for cooperatives and women entrepreneurs yesterday.

According to him, one of the barriers causing the delay to the processes is the report history from CTOS Digital Bhd and Central Credit Reference Information System (CCRIS).

“For example, borrowers of the National Higher Education Fund Corp (PTPTN) who have been blacklisted through its CTOS and CCRIS records cannot even start a business. Therefore, I would like the loan arrangements for this group to be facilitated,” stated Noh.

He also urged the agencies to put aside the CTOS and CCRIS matter to help the affected entrepreneurs.

“I asked agencies which were involved with the government allocations that have been entrusted to Medac to set aside the CTOS and CCRIS matter, and speed up the loan process for the entrepreneurs out there,” he pressed.

Recently, Noh also told the Dewan Rakyat that Medac will take action against officials who delay and make it difficult for the people to get help.

Commenting on the Budget 2022 that will be tabled in Parliament this Friday, he was confident that the government would focus on the economic recovery affected by the pandemic.

“I am confident that the government will provide some ease in terms of taxation to SMEs, and the government will also find a way to revive economic activities for the upcoming budget,” he added. - The Malaysia Reserve