FMT LETTER: From Agilan Ramachanthiran, via e-mail
I recently read with happiness the news that the Prime Minister Najib Tun Razak has announced that there is RM180 million worth of loans for the Indian business community.
I’m a Malaysian Indian and intending to start my business of a mini market. I have been trying to apply for start-up loans and when this scheme was announced, I was happy that the government has made an attempt to help the budding Indian entrepreneurs.
According to the information provided, a special secretariat, the Secretariat for Empowerment of Indian Entrepreneurs (SEED) has been set up for the applicants of the loan..
The chart provided by SEED showed that aspiring business entrepreneurs can enter the schemes which are suitable for us
However, to my disappointment, when I contacted SEED on Aug 31, 2012, the only reply I received was that the application forms are not available and please contact 10 days later.
I was very confused as on Aug 2, it was reported that applications were open to the entrepreneurs already.
Thereafter, I met with one of the loan officers in SEED who informed me that currently loans were not available.
I have also been to TEKUN where according to the SEED chart, above RM30 million has been allocated for Indian businessman.
I qualify for the first scheme (SPUMI) as I am still in my late 20s. Again, to my disappointment, I was informed that such funds have never been given to TEKUN.
Finally, I tried to meet G Palanivel in Kuala Lumpur to enquire about this fund but I was informed that he was not available at that time and was told that SEED was handling the loans.
Until till now (Aug 18, 2012), I have not received any application form nor information from SEED regarding the funds and when I met the officer in charge in SEED on Aug 15, 2012.
One Mr Madhavan, he told me that the reports in the newspapers were wrong and the funds have not been released yet.
With all due respect, there is a great deal of confusion and uncertainty concerning this RM180 million fund.
My question is are there really funds available for fresh businessmen like myself or is the announcement of the 180million fund motivated by other interests.
I request SEED not to provide misleading information to the general public regarding the loans.
I also hope that SEED and the Prime Minister’s office could provide me an explanation as to how the RM180 million funds are being disbursed to Indian businessmen and when I can actually apply for the loan.
Many fresh Indian entrepreneurs like myself genuinely need government assistance for our enterprises
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