Nambikkai to lodge Memo on SEED with PM’s Office

Those who have problems with SEED are urged to come forward and contact the NGO.

KUALA LUMPUR: Nambikkai, an independent Indian NGO, is preparing a Memorandum on SEED to submit to the Prime Minister’s Office, and with good reasons.

The performance of SEED, the Secretariat for Empowerment of Indian Entrepreneurs, leaves a lot to be desired. SEED is an agency of the Prime Minister’s Department and was formed in August 2012. The loan applications follow an initiative taken by Prime Minister Najib Abdul Razak to assist Indian entrepreneurs.

Nambikkai urged those who have problems with SEED to come forward and contact the NGO.

At a press conference in Brickfields, Kuala Lumpur,President of Nambikkai, Kalai Vanar said, “Under Budget 2015, via Tekun Nasional, RM 50 million was set aside, under SEED, to aid an estimated 5,000 entrepreneurs.

“The doubt begins when most young applicants can’t get loans from banks due to certain regulations that can’t be met. SEED is subjecting them to the same conditions.”

Kalai Vanar added that as a result Indian SMEs are facing difficulties in meeting the operational costs of their businesses. “Even when the loans are approved, it’s only partial.”

“SEED isn’t sincere and lacks transparency in its operations.”

Nambikkai has been saddled with complaints from dejected and frustrated entrepreneurs, according to Kalai Vanar, who urged SEED to be more efficient in making available the funds released by the Prime Minister.

“When these young entrepreneurs can’t get the loans, they blame the government,” he warned. “Najib has done his part, SEED is the problem.”

Nambikkai recently tried to arrange for Indian entrepreneurs to meet with the SEED representative in Butterworth, Executive Director, Dr. A. T. Kumararajah, but to no avail. He could not be reached by phone.

“Frustrated youths will degenerate into gangsterism and peddling drugs,” said Kalai Vanar. “Some have resorted to loan sharks, resulting in suicides when they can’t repay their loans.”