By Norrasyidah Arshad
SHAH ALAM, March 19 — The Selangor government spent RM128 million last year to help sustain the income of more than 50,000 workers in the state.
Menteri Besar Dato’ Seri Amirudin Shari said the funds were given out as loans to more than 1,500 companies, including federal agencies, government-linked companies (GLCs), state government companies and the private sector.
“For example, more than 3,000 loans were given to the manufacturing sector to ensure the companies can continue their operation. Other facilities were also provided for the benefit of various parties,” he said.
The Menteri Besar was speaking at the winding-up session on the decree of the Sultan of Selangor, Sultan Sharafuddin Idris Shah Alhaj, during the State Legislative Assembly sitting here yesterday.
Selangor Advance with the Tawarruq concept was introduced in 2020 with an initial fund of RM100 million to help small and medium enterprises (SMEs) face the economic effects caused by the Covid-19 pandemic.
In June 2021, Menteri Besar announced an additional fund of RM200 million for the Selangor Advance programme to strengthen business competitiveness and save companies and their employees.
Amirudin said the types of loans offered included supply chain financing or general contracts, bank guarantees and letters of credit guarantee, letters of commitment, letters of support, working capital, and secured and guaranteed financing.
