RM11.6 million allocated under import relief program as of June 30
KUALA LUMPUR (2 Aug): The Import Assistance Program (IAP) of the Ministry of Plantations, Industries and Commodities (KPPK) has allocated funds worth RM11.6 million up to as of June 30, 2022, for the benefit of 262 companies.
His Minister Datuk Zuraida Kamaruddin said that through the scheme, timber importers receive assistance with the logistics costs involved in importing timber raw materials into Malaysia.
“The scheme implemented under the Malaysian Timber Council (MTC) has provided maximum annual assistance between RM70,000 and RM115,000 to each company, subject to terms and conditions,” she said today. today at Dewan Rakyat, in response to questions from Yeo Bee Yin. (PH-Bakri) on the government’s efforts to help the furniture industry in the country after Covid-19.
KPPK, through the Malaysian Timber Industry Board (MTIB), has also provided a loan scheme to the industry to purchase raw materials, she added.
“Loans between RM20,000 and RM1,000,000 depending on the cost of the timber raw materials are repaid after three to six months,” she said.
Financial assistance is also being provided to exporters of wood products under the Export Assistance Program (EAP) to help them cope with soaring shipping costs due to the pandemic.
“Financial assistance of up to RM15,000 has been awarded to qualifying businesses. As of June 30, 2022, RM2.21 million has been allocated, benefiting 189 businesses,” she added.
KPPK, through MTC, continues to encourage companies in the timber industry to expand their overseas markets by participating in exhibitions and trade missions.
“The focus is on the US, Middle East, ASEAN and Oceania markets to enable the expansion of the domestic wood products industry.
“The Ministry also provides grants for their participation in exhibitions such as Malaysia International Furniture Fair (MIFF), Export Furniture Fair (EFE), Ecobuild South East Asia, Malaysia International Renovation Expo (REX ), Expo 2020 Dubai, Archidex and many more. “, Zuraida said.
The minister also revealed that a brand promotion program by her ministry has been implemented, helping to promote the brands of ten companies through social media platforms such as Facebook, Instagram, Youtube and TikTok. – Bernama