Yong urges trade associations to help businesses obtain benefits of package

KOTA KINABALU - Sabah Progressive Party (SAPP) said the RM20 billion stimulus package unveiled today will have no effect if the benefits do not reach the business community in a timely manner.

Its president Datuk Seri Yong Teck lee said based on his experience, he knows that many small and medium business people have difficulties overcoming the bureaucratic hurdles in order to access the many types of grants and assistance provided by the government.

He therefore called on the hotel and tourism associations, chambers of commerce, manufacturers’ federation, automobiles, taxis and other relevant associations to organise meetings with the various government departments, to help their members to fill in the application forms and advise them on how to apply for these generous assistance provided by the federal government.

Yong specifically pinpointed some of the more relevant assistance unveiled today are:

1. Special Relief Facility (RM2 billion) at 3.75% provided by Bank Negara for small and medium enterprises,
2. Microcredit of RM200 million at 4% interest by Bank Simpanan Nasional for affected businesses,
3. RM1 billion for Agrofood Facility at 3.75% for food production,
4. Restructuring and rescheduling of loans by banks for affected businesses without exception,
5. Rebates on rentals for airport tenants, and
6. One-off payments of RM600.00 to taxi drivers, bus drivers and tour guides. 
7. All recipients of Bantuan Sara Hidup (BSH) will also get additional payments.

He suugested that trade and business associations will need to meet with government departments and agencies on the details on the qualification and procedure to apply for the other assistance such of training courses, Employment Insurance Scheme, personal income tax relief and so on.

"Hotels, tourism players, shopping malls and convention centres should check their SESB monthly bills to look out for the 15% discount on electricity.

He said the exemption from 6% service tax for hotels from March to August this year, the Customs Department should inform the tax payers in writing. Similarly, the Human Resource Development Fund should inform their subscribers about the exemption from paying the HRDF.

"I also call on the local authorities such as rural district councils to quickly act on their long list of minor projects that are in urgent need of funds to implement. This is so that they can benefit from the RM2 billion for immediate implementation of small infrastructure repair and upgrading projects.