KUALA LUMPUR: Datuk Seri Najib Tun Razak yesterday launched the Chinese Hawkers and Petty Traders Micro Credit Scheme involving an allocation of RM30 million to help develop their business and facilitate their access to loans.
The Prime Minister said under the scheme, each applicant was able to borrow between RM5,000 and RM15,000 depending on the stipulated conditions and approvals.
“Development (of the country) must be inclusive and fair especially to the lower income group.
“That is why we launch the micro credit scheme today, as the government believes this group must be assisted.
“Regardless of their ethnicity, hawkers and petty traders must be given the assistance as they play a role (for the nation),” he said during his speech ahead of the launch of the scheme in Jalan Alor here yesterday.
Also present were the Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek; his deputy Datuk Seri Ahmad Bashah Md Hanipah; Minister in the Prime Minister’s Department Datuk Mah Siew Keong; Federation of Chinese Hawkers and Petty Traders Association chairman Datuk Lee Teong Chwee and Jalan Alor Hawkers and Traders Association president Beh Kok Khiang.
The prime minister said loans under the scheme would be administered by 1Malaysia Hawkers and Petty Traders Foundation, which will facilitate and assist the financing to some 130,000 Chinese hawkers and petty traders across the country.
“We have established the foundation as it will have trustees who are able to communicate with the hawkers and petty traders via the scheme.
“They understand that the traders have difficulty in obtaining bank loans due to problems such as having no monthly pay slips and guarantors.
“Moreover, through the scheme and foundation, the traders can also reduce their risk exposure by getting loans from ‘Ah Long’, which only aggravates their problems,” added Najib.
According to Najib, the repayments for the loans could be used as revolving capital to assist other traders, thus opening up equitable opportunities for them to improve their income.
“I hope the hawkers and petty traders will grab these opportunities to improve their business and reap favourable income,” he said.
Following the launch, Najib took time to visit the hawkers and petty traders’ stalls around the area and mingled with the crowd before leaving. — Bernama