RM120 million in loans for 1,000 1Malaysia Food Truck, Food Kiosk entrepreneurs

KUALA LUMPUR: Various initiatives were proposed under Budget 2018 to help the rakyat generate more income, including by allocating RM120 million to provide easy loans to 1,000 1Malaysia Food Truck and 1Malaysia Mobile Food Kiosk entrepreneurs, Prime Minister Datuk Seri Najib Tun Razak said.

Making the announcement when tabling the Budget 2018 in Parliament yesterday, Najib, who is also Finance Minister, said the loans would be provided through Bank Rakyat and Bank Simpanan Nasional and that the government would provide a subsidy of four per cent on the interest rates.

He said a sum of RM100 million would also be allocated to expand eRezeki, eUsahawan and eLadang Programmes under the Malaysia Digital Economy Corporation (MDEC), while another RM60 million will be provided to implement the 1AZAM programme, including RM10 million for Sabah and RM10 million for Sarawak.

The prime minister said RM25 million would be allocated for Three-Wheel Motorcycle Programme under FAMA, GiatMara mobilepreneur and MyAGROSIS programmes.

He said in line with the Industrial Revolution 4.0, all registered taxi drivers who wish to shift to ehailing application, would be provided a grant amounting to RM5,000 for the purchase of a new car.

In addition, Najib said the government will allocate RM20 million to develop the Agrobazaar Malaysia to provide market space and agrofood sales centre at a lower price, beginning in Putrajaya.

He said the Agriculture and Agro-Based Industry Ministry would implement programmes through FAMA and LKIM with an allocation of RM50 million and that these programmes would enable consumers to purchase food products such as fish, vegetables, chickens and eggs at affordable prices.

The government will also allocate RM3.9 billion for goods and transport subsidies including cooking gas, flour, cooking oil, electricity and toll.