@KlangChamber Proposes RM500mil Special Fund & 10% Business Opportunities for Indian Businesses

Klang Indian Chamber of Commerce (@Klangchamber) today proposed a special task force to be setup immediately by Federal Government to address long overdue promises in increasing Indian Equity participation by 3%.  A delegation led by @klangchamber President Mr M Shanmugam submitted a memorandum to YB Senator Datuk Maglin DCruz, Deputy Minister of Information , Communication and Culture whom also representing Klang Community at the Federal Cabinet.

Below  are  some salient point of the memorandum :

a)    To provide at least 10% business opportunities to Malaysian Indian Companies in areas that may be of mutually benefit.

b)    Requesting Federal Government to form an Economic Taskforce  (ET) under Prime Menteri Department headed by Ministry of Finance . The ET is to ensure opportunities are given to qualified Indian businesses by all level government authorities including Government link companies [GLC] and ways to increase Indian Economic Equity to 3% by 2020.

c)    Government of Malaysia to allocate some RM500million Special Fund [5KSF] for Malaysian Indian Businesses (not ordinary commercial bank loans or Tekun) through SME Bank managed by specially appointed Indian Director and a Department. 

d)    Special Secretariat for Empowerment of Indian Entrepreneurs [SEED] are to be transformed into full fledge Department with annual budget with more empowerment include monitoring GLCs , Government authorities and Banks.

e)    Perbadanan Usahawan Nasional Berhad (PUNB), Institut Keusahawan Negara and Petroliam Nasional Berhad (Petronas) to provide opportunities to all Malaysia regardless of race, otherwise change their name to allow formation another entity for non bumiputras.

f)     Ministry of Information Communications & Culture to work with Klang Indian Chamber of Commerce and other NGOs in organizing Annual Klang Deepavali carnival.

The Deputy Minister has agreed to look into formation of ET and arrange a meeting with concern stakeholders soon to address economic issues brought by @klangchamber.  

Also present during the meeting was Mr P Peramasivam, Vice President, Mr S. Arikrishnan Executive Secretary and Mr M Puspanathan , Chairman of Empowering Young Entrepreneur Committee (E.Y.E) of Klang Indian Chamber of Commerce.