The RM30 million BERKAT Deepavali People’s Business Festival Financing Scheme is expected to provide timely financial support to Indian entrepreneurs and traders as they prepare their businesses for the upcoming Deepavali season.
The Malaysian Indian Chamber of Commerce and Industry (MICCI) Penang president Datuk S.Parthiban welcomed the initiative, describing it as a meaningful measure that would assist small traders as well as micro, small and medium enterprises (SMEs) in meeting their business needs during the festive period.
“The recent BERKAT Deepavali with an allocation of RM30 million, is a timely and meaningful initiative that will assist Indian entrepreneurs and traders in preparing their businesses for the upcoming Deepavali season.
“MICCI Penang welcomes these proactive measures and believes that such targeted support will help strengthen the sustainability, resilience and growth of Indian-owned businesses,” he said in a statement today.
Parthiban said the chamber appreciated the efforts of Entrepreneur and Cooperatives Development Minister Steven Sim in introducing and strengthening initiatives aimed at providing financial assistance and opportunities for Indian entrepreneurs.
“We sincerely thank Steven Sim for listening to the concerns of the business community and for his continuous efforts to empower Indian entrepreneurs. Thank you Sim for your continued support and commitment to our business community,” he said.
Last Saturday, Sim announced Entrepreneur and Cooperatives Development Ministry (KUSKOP) has allocated RM30 million under the BERKAT Deepavali to help Indian entrepreneurs prepare their businesses ahead of the festival next month.
Meanwhile, Malaysia Hindhudharma Maamandram president V. Rishikumar described the BERKAT Deepavali initiative as a timely move to support and empower Indian entrepreneurs and small business owners ahead of the Deepavali celebration on November 8.
He noted that the special financing scheme, spearheaded by the National Entrepreneur Group Economic Fund (TEKUN Nasional), offers financing facilities of up to RM30,000 with a highly competitive profit rate of just three per cent per annum and a flexible repayment period of up to 12 months.
“Therefore, Malaysia Hindhudharma Maamandram urges all Indian entrepreneurs to seize this golden opportunity to expand their business empires and further enliven this year’s Deepavali celebrations,” he said.
Rishikumar said that the success of the BARAKAT scheme during Hari Raya Aidilfitri where the Ministry of Entrepreneur and Cooperatives Development (KUSKOP) disbursed RM35 million to 5,590 entrepreneurs, exceeding the initial RM30 million allocation target instills great confidence that BERKAT Deepavali will deliver a similarly positive impact on the Indian community.
