Home Business RM50 Million Is For Overall Development Of Indian Entrepreneurs, Says SEED

RM50 Million Is For Overall Development Of Indian Entrepreneurs, Says SEED


KUALA LUMPUR, July 25- The Government never promised RM50 million solely for Indian taxi drivers under the National Entrepreneurial Group Economic Fund (Tekun Nasional) but the money was for the overall development of the Indian entrepreneurs, it was clarified Wednesday.

SEED-director-AT-Kumararajah-300x197Special Secretariat For Empowerment Of Indian Entrepreneurs (SEED) Director Dr A. T. Kumararajah (photo) said the government never promised RM50 million for Malaysian Indian taxi drivers.

“What the government promised is that Indian entrepreneurs will get access to RM50 million from Tekun Nasional this year,” he told a press conference today.


Kumararajah said SEED has disbursed RM4.8 million loans to Indian taxi drivers under its special scheme for the group.

He said 570 applications have been approved from 960 applications received since April and until now under a special scheme for Indian taxi drivers.

“The balance of 390 applications are still being processed because of incomplete information in the application forms,” he said.

He said SEED will ask the government to allocate another RM70 million for Indian taxi drivers under the 2014 Budget.

Kumararajah said since the inception of the special scheme for Indians under Tekun Nasional, a total of RM3.45 million has been disbursed to 4,212 Indian entrepreneurs until this month under the first phase.

In the second phase of the scheme, SEED has given out over RM80.5 million to 5,020 Indian entrepreneurs, he said, adding that a total of RM115 million has been disbursed to 9,232 Indian entrepreneurs.

SEED is a unit established under the Indian Community Economic Transformation Programme in the Prime Minister’s Department.