KUCHING: The government should extend and provide more financial assistance to support the recovery of small and medium enterprises (SMEs) in Budget 2023 which will be tabled on Friday.
Federation of Chinese Associations of Kuching, Samarahan and Serian Division president Datuk Richard Wee said SMEs had suffered badly during the Covid-19 pandemic and were still going through the recovery stage.
“Thus, the 2023 Budget should provide increased financial assistance to the SMEs, including Sarawak. The importance of SMEs should not be ignored, in fact it should be emphasised and recognised,” he said.
“More stimulus initiatives should be given in order to boost the economy of the nation.
“At the same time, targeted groups in need of assistance must be focused to alleviate the welfare of the needy,” he told New Sarawak Tribune yesterday.
Wee also hoped the allocation for Sarawak and Sabah would be fairly considered in the national budget.
Meanwhile, Sarawak Master Builders Federation hoped the federal government would continue the good work to introduce new initiatives to help mitigate problems faced by contractors and to enhance the construction industry in Budget 2023.
Its president James Ha Tung Ing suggested a blanket approval for waiver of Liquidated and Ascertained Damages for late completion to a maximum of six months for all federal contracts and projects, where applicable, in order to ease the contractors’ financial burden.
“This measure will be especially helpful as our industry had received little other direct assistance and reliefs during this difficult period, between 2020 and 2023,” he said.
“Besides, we understand that the initiative of allowing extension of time (EOT) for projects with progress of at least 60 per cent based on the work programme had expired in Dec 2022. We hope the deadline for this initiative can be extended to benefit more contractors and reduce ‘sick’ contracts and projects,” he added.
At the same time, Ha said the federal government must closely monitor the supply of critical building materials, particularly cement and aggregates, especially in Sarawak and ensure ample supply to the market.
Otherwise, he said, the shortage of building materials would cause delays to contractors’ work and progress.
