Funds set aside for small- and medium-scale industry (SMI) loans as well as the micro-credit scheme under the management of Bank Simpanan Nasional (BSN) Bhd are under-utilised, recent data from Bank Negara Malaysia shows. Under the government's stimulus package unveiled on 21 May, a total of RM300 million was allocated to BSN for micro-credit loans.
According to Health Minister Datuk Chua Jui Meng, statistics from Bank Negara showed that there were only 139 approved applicants as at 9 July, making up a total disbursed fund of RM1.65 million.
Speaking to reporters after launching a seminar on "Micro Credit and SMI Loans" in Kuala Lumpur, Chua said the tepid response towards the scheme might be attributed to lack of awareness among entrepreneurs.
He said the government recognises that small- and medium-scale enterprises (SMEs) are the catalysts for the economic growth and has allocated 41 per cent of the RM7.3 billion package to these groups.
