Unity Gov't To Strengthen Indian Community's Economy Through Targeted Initiatives - Ramanan

KUALA LUMPUR, Sept 8 (Bernama) -- The Unity Government will continue its efforts to strengthen the Indian community's economy in the country through a range of planned initiatives, said Entrepreneur Development and Cooperatives (KUSKOP) Deputy Minister Datuk Ramanan Ramakrishnan.

He highlighted several key programmes, including the Empowerment Financing Scheme (SPUMI Goes Big), Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) and the Prosperity Empowerment and A New Normal (PENN) initiative, all of which have demonstrated success and positive outcomes for Indian entrepreneurs.

He said SPUMI Goes Big, managed by the  National Entrepreneurial Group Economic Fund (TEKUN), has garnered strong participation. As of last week, RM10 million has been disbursed to 202 entrepreneurs since its launch on April 3.

"SPUMI Goes Big is designed to uplift and drive progress among Indian entrepreneurs in the business sector.

“An additional RM30 million has been allocated, doubling this year's budget to RM60 million, the largest allocation since SPUMI's inception," he told Bernama here today.

As of the same period, the BRIEF-i programme has distributed RM27 million to 322 Indian entrepreneurs since its launch on June 5, the Sungai Buloh MP said.

For the PENN programme, managed by Amanah Ikhtiar Malaysia (AIM) and launched on April 13, RM14 million of the RM50 million allocated has been disbursed to 1,250 Indian women entrepreneurs, reflecting strong engagement as of last week.

Ramanan further noted that the Unity Government, under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, has allocated an additional RM130 million for the Indian community over the past four months.

Regarding the oversight of these initiatives and the allocated funds, Ramanan said he would personally oversee the process to ensure success.

"I recognise that there may be some challenges in implementation, but we are committed to ensuring smooth execution. I have requested weekly progress reports to monitor the situation closely," he said.

In addition, Ramanan said KUSKOP, in collaboration with the Malaysian Cooperative Commission (SKM), will organise the first-ever Indian Cooperative Conference next month to further empower and guide the future direction of Indian cooperatives in the country.

-- BERNAMA