KUALA LUMPUR – The government’s allocation of RM399 million in the revised Budget 2023 − tabled earlier today by Prime Minister Datuk Seri Anwar Ibrahim − to the Youth and Sports Ministry saw a significant increase over the RM289 million allocated last year.
This budget saw the sports industry receiving an extra RM110 million from the government, where a significant amount of RM324 million is for training programmes and sports facilities for all athletes and para-athletes.
The allocation is also to develop the sports ecosystem which involves the search of talent all the way to the podium events, as well as for the purpose of maintaining and upgrading sports facilities across the country.
Anwar said that the administration will provide RM20 million to focus on unity programmes in sports, culture, and arts at school and community levels.
To achieve this, Anwar said the government will provide matching funds of RM50 million to encourage the private sector’s sponsorship for sports programmes, especially for unity-based sports, and for competitions at the national level.
At the same time, he said the government will provide RM5 million to the National Athletes’ Welfare Foundation (Yakeb) this year for the well-being of athletes.
Meanwhile, Anwar said that tax exemption of 10% from the aggregate income of individuals or companies that contribute to non-profit organisations that implement grassroots sports development programmes.
The government will also provide tax exemptions to employers who hire former national athletes. – The Vibes, February 24, 2023
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