KUALA LUMPUR, July 13 — Youth and Sports Minister Hannah Yeoh has promised to fight for the recommendation that the incentive value of the Sports Victory Prize Scheme (Shakam) be increased threefold from 2024.
With the support of Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi, she will raise the matter in the Cabinet meeting so the Ministry of Youth and Sports (KBS) allocation can be increased next year.
“We will increase efforts to increase the incentives because times are different now. We have to see how we can give more substantial rewards to the athletes.
“We know when compared with other (neighbouring) countries, it is not as high as theirs, but as the TPM said, we have to strive for higher rewards to encourage our athletes,” Yeoh said after the presentation ceremony of Shakam, amounting to RM2.4 million, yesterday night.
The ministry will also look at ways to encourage bigger involvement of private companies in providing incentives to athletes such as giving tax breaks to companies in the next Budget presentation.
Earlier, Ahmad Zahid in his speech at the ceremony had suggested that the value of Shakam’s reward should be tripled in 2024, as an encouragement to athletes who make the country famous on the international stage.
He feels the incentives at the moment were insufficient in contrast to the achievements of national athletes who are winning more accolades at every sports event.
Ahmad Zahid also voiced his hope and confidence that Prime Minister Datuk Seri Anwar Ibrahim will announce additional incentives for the sports sector, in the presentation of Budget 2024 in October.
According to the existing Shakam reward rates, gold medal winners at the Olympic and Paralympic Games will receive RM1 million, while silver and bronze medallists are eligible for RM300,000 and RM100,000 respectively.
For the Commonwealth, Asian and Para-Asian Games, medal winners will receive RM80,000 (gold), RM40,000 (silver) and RM20,000 (bronze), while winners at the SEA and Asean Para Games will receive RM20,000 (gold), RM3, 000 (silver), and RM1,000 (bronze).
Of the RM2.4 million in Shakam incentives presented last night, RM1.2 was given to medal winners at the Cambodia SEA Games, RM1.18 million to the Asean Para Games contingent and for the first time, RM95,500 was given to the contingent to the 2023 Special Olympics in Berlin, Germany.
— Bernama
