Call to simplify process for MSMEs to apply for RM44bil Budget 2024 allocation


MICRO, small and medium enterprises (MSMEs) in Johor want the Federal Government to simplify application processes to receive allocations under Budget 2024.

Johor Indian Petty Traders and Small Business Association (Jipta) chairman D. Ravindran said the same would apply to the state government when tabling its budget on Nov 23.

Ravindran said they needed more details on the RM44bil in loans and financing guarantees provided to MSMEs under Budget 2024 as announced by Prime Minister Datuk Seri Anwar Ibrahim on Oct 13.

He said agencies under the Finance Ministry should brief related organisations on the disbursement.

“The Johor government should ease loan application procedures and not come out with conditions that could jeopardise MSMEs’ chances of securing the funds.”

He claimed that loan applications of many Jipta members operating restaurants were turned down by a bank appointed by the state government.

Ravindran also called on Indian micro-enterprises and petty traders making below RM300,000 yearly to join Jipta, which has about 400 members.

Johor South SME Association adviser Teh Kee Sin hoped the disbursement of the RM44bil for MSMEs would be expedited.

He said the federal and state governments must work together to attract foreign direct investments into Johor.

“The presence of multinational corporations (MNCs) would enable SMEs to offer services and support systems to them.”

Teh said the Special Economic Zone and Special Financial Zone would boost economic growth, especially in the Iskandar Malaysia region.

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