Published: Tuesday November 17, 2009 MYT 2:22:00 PM
Parliament: RM7b fund for entrepreneurs all used up
By LEE YUK PENG
KUALA LUMPUR: The RM7bil worth of funds allocated for the Working Capital Guarantee Scheme has been all used up and disbursed to 5,329 small and medium entrepreneurs.
International Trade and Industry Minister Datuk Mustapa Mohamed said the RM5bil fund was increased to RM7bil and had been expected to last till December next year.
“The fund has since been used up,” he told Dr Che Rosli Che Mat (PAS-Hulu Langat) in Parliament on Tuesday.
Mustapa also said of the 5,329 entreprenuers, 24% of them were bumiputras.
The scheme is given to those with working capital of less than RM20mil.
The retail, wholesale and restaurant sectors topped the list in securing funds with a total 36%, followed by 25% in the construction sector and 24% in the manufacturing sector, he said.
To another question by Datuk Ibrahim Ali (Independent-Pasir Mas) on why only 24% of those given the aide were bumiputra entrepreneurs, Mustapa said that many of them had been affected by the slow economy and did not expand their business.
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