RM50m to help petty traders

It is one of Mara's mechanisms to create Bumiputera wealth, says its chairman.

KUALA TERENGGANU: The government has allocated RM50 million for a programme called “UK Dinamik” which will benefit over 1,000 petty traders and entrepreneurs nationwide.

Mara chairman Idris Jusoh said the aim was to produce credible and successful petty traders and entrepreneurs.

“UK Dinamik is a government effort to increase the income of petty traders and entrepreneurs, and is one of Mara’s mechanisms to create Bumiputera wealth,” he told reporters after opening a UK Dinamik seminar here today.

Present was Terengganu Mara director Abdullah Mohamad.

“We are aware and have received many complaints from petty traders who are facing problems to gain access to capital, obtain business premises and so on,” Idris said.

Through the UK Dinamik programme, Mara saw possible collaborations with various parties including non-governmental organisations and traders associations, he said.

UK Dinamik provides loans of not more than RM10,000 and the entrepreneur needs to pay back the loan in two years.

Meanwhile, Idris said Mara approved 5,435 business financing applications worth RM440 million last year.

Abdullah said RM1.05 million had been allocated to Terengganu Mara for the UK Dinamik programme involving 135 petty traders.

Last year, he said, Mara Terengganu approved business loans to 362 entrepreneurs totaling RM30.9 million.

- Bernama