KUCHING: The Budget 2020 allocation for Bumiputera businesses is small and insufficient when compared to allocations under the previous administration.
“Moreover, the figures given are for the whole country, so it is difficult to know the actual allocations for Sarawak Bumiputera Small Medium Enterprises (SMEs).
“Nevertheless, I would like to draw attention of our members as well as the rest of the Bumiputera business community to what are available for them,” said Chamber of Sarawak Bumiputera Entrepreneurs (DUBS) president Datuk Abang Helmi Ikhwan when contacted yesterday.
He noted that a sum of RM445 million was allocated for Bumiputera SMEs, apparently to be disbursed through Permodalan Usahawan National Bhd (PUNB), SME Corp, Tekun, SME Bank and Teraju.
“We have yet to find out how much of the RM445 million would be allocated for Sarawak SMEs,” he said adding that the federal government should specifically state the amount apportioned to Sarawak.
He added that a sum of RM300 million was also provided to support Bumiputera SMEs in the country with potential to become regional players.
Abang Helmi lauded the increase from RM200,000 to RM300,000 per company for market development expenses. There is also a ceiling increase from RM15,000 to RM25,000 per participant in export promotion programmes.
“We welcome that SMEs are granted concessionary tax rate of 17 per cent for chargeable income of up to RM600,000,” he added.
Abang Helmi also said that the development allocation of RM4.4 billion to Sarawak was ‘not adequate’.
“Considering the need for Sarawak to catch up with development in Malaya and looking at the huge amount Sarawak contributes in petroleum revenue, the development allocation for Sarawak is inadequate,” he said.
