Thursday 22 Feb 2024
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KUALA LUMPUR (July 27): Prime Minister Datuk Seri Anwar Ibrahim said the government will offer e-cash credit of up to RM100 to all Malaysian adults with an annual income of RM100,000 and below.

This is expected to benefit 10 million who are in the bottom 40% and middle 40% income groups. The government is expected to fork out RM1 billion for the initiative.

He announced the new measure in his speech at the launch of the Ekonomi Madani economic plan here on Thursday (July 27).

According to him, the government recognises the success and huge impact of e-cash programmes on the community.

"Micro, small and medium enterprises (MSMEs) depend on domestic demand to increase their income. The success of the eBeliaRahmah programme has not only benefited two million youths, but has also helped businesses to generate income while building a cashless society," he said.

He noted that 79% of MSMEs comprise micro-enterprises, and had the potential to grow and penetrate foreign markets with sufficient support and encouragement.

"The Madani Budget 2023 contained over 70 initiatives for MSMEs that were focused on access to loans and funding guarantees. More must be done. The Ministry of Economy has started executing the People's Income Initiative, which is intended to strengthen business supply chains," Anwar said.

"The government welcomes Malaysian start-ups such as PolicyStreet, Dropee, Lapasar, and Funding Societies that can be agents of change in the MSME sector through alternative funding, such as equity crowdfunding," he added.

Edited ByLam Jian Wyn
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