KUALA LUMPUR – The Youth and Sports Ministry (KBS) will be assisting small and medium enterprises in the sports industry to apply for loan moratoriums.
It said it will establish a Prihatin Secretariat that will be tasked with assisting business owners by issuing ministerial support letters for moratorium applications.
The ministry also announced an RM18 million allocation for sports entrepreneurs and facilities affected by the current lockdown.
This follows the Pemulih stimulus package announcement by the prime minister last week, which, among others, states that sports industry businesses that are affected by the lockdown will receive a one-off payment of RM3,000 each.
The RM18 million allocation under the Sports Industry Care Grant is expected to benefit some 6,000 businesses in the sport industry.
Those interested may apply for the grant via this link from today.
The ministry will provide a 6-month 50% rental discount for sports facilities under the National Sports Council, National Youth and Sports Department, Leadership Excellence and Development Institute, and Impact Integrated.
It has also dedicated 1,000 slots in the MYVAC volunteer programme for sports industry workers who are registered with the International Trade and Industry Ministry via the Covid-19 Intelligent Management System 3.0.
Besides that, the Sports Ministry and Entrepreneur Development and Cooperatives Ministry will bring the matter of lower repayment rates for businesses in the sports industry to the cabinet.
KBS also welcomes the extra funds, amounting to RM1.1 billion, under the microcredit financing programme.
On Covid-19 immunisation, KBS said the Sports Industry Vaccination Programme will allow those in the industry to be given priority in the process.
The ministry is also offering free sports-related courses.
Youth and Sports Minister Datuk Seri Reezal Merican Naina Merican said his ministry understands the struggles faced by those in the industry who are facing a tough time due to the pandemic.
“The only way to make sure we get out of this situation is by reopening the sports and recreation sector.
“Hopefully, these additional initiatives will give some relief to those in the industry who are going through difficult times.”
For more information, visit the official ministry website or call the secretariat at 03-8871-3784. – The Vibes, July 5, 2021
