SEREMBAN: Negri Sembilan Menteri Besar Datuk Seri Mohamad Hasan said the 2018 Budget announced by the Prime Minister Datuk Seri Najib Razak today was a comprehensive budget proposal.
“The 2018 Budget is an inclusive budget, which touches all walks of life in the country. It covers all aspects which benefit the rakyat,” he said.
Meanwhile, various allocations to strengthen small- and medium-sized enterprises as announced in the 2018 Budget are seen as new opportunities for local entrepreneurs to expand their businesses.
A traditional herbs entrepreneur, Lizawati Raffles, 31, who is the owner of Wawa Nature Herbs HQ here said the allocation will help local entrepreneurs to increase their production which will in turn increase profits.
“It’s a positive move by the government as the allocation will provide us the opportunity to expand our businesses and at the same time, provide more job opportunities to the locals.
“However, I hope complicated bureaucracy process will not get in the way in delivering the aid and allocations provided to the local entrepreneurs, especially to those who have performed well in their businesses,” she said.
During the tabling of the 2018 Budget, Najib announced that the government was targeting SMEs to contribute 41 percent to gross domestic product (GDP) by 2020 with five key steps.
Through the Business Financing Guarantee Scheme, RM 7 billion has been allocated, comprising RM5 billion for working capital and RM2 billion in loans with 70 percent government guarantees for the services sector, including the Fourth Industrial Revolution (Industry 4.0).
Additionally, the size of the Shariah-compliant SME Financing Scheme fund has also increased by RM1 billion, bringing the fund size to RM2.5 billion and two per cent subsidised on its profit rate.
Over in MELAKA, Chief Minister Datuk Seri Idris Haron rubbished claims by several quarters that the 2018 Budget was a set-up for the upcoming 14th General Election (GE14).
Idris said that Prime Minister Datuk Seri Najib Razak, who is also the Finance Minister, was wise in balancing tax implementation and incentives.
“This is the most inclusive budget I’ve ever heard of. The various incentives announced by the Prime Minister showed that he listened to the people.
“It also dismisses talks that Budget 2018 was presented to garner BN votes as the general election is rumoured be held this year, which is untrue,” he told reporters after watching the live broadcast of the Budget 2018 presentation at his official residence in Seri Bendahara.
Idris also added that Melaka would receive the spillover benefit from the Prime Minister’s announcement including in sports development and the tourism sector.
“Melaka will benefit in the tourism sector because we are a state which contributes greatly to the nation’s tourism sector.
“The state is the main leader in terms of tourism and health tourism, providing excellent medical services to foreigners from as far as Germany and Italy.
“We will benefit from the Federal Government’s initiative to introduce Visit Malaysia Year 2020 and several other tourism programmes,” he said.
Earlier, Najib proposed an allocation of RM2 billion in 2018 Budget as tourism fund to provide loans for operators next year.
He said the fund to assist the small and medium-scale enterprises would provide loans at a subsidised interest rate of two per cent.
“Of the amount, RM1 billion will be allocated for the Tourism Infrastructure Development Fund as soft loans,” said Najib.
Najib said RM500 million would be used for development and promotion activities through improved tourism facilities, homestay and eco-tourism programmes.