Palanivel to manage RM180mil fund for Indian entrepreneurs
Joseph Kaos, Star
22th July, 2012


KUALA LUMPUR: MIC President Datuk Seri G. Palanivel has been given the task of managing a RM180mil special government allocation meant to help Indian entrepreneurs.

The Minister in the Prime Minister’s Department said the decision for him to take charge of small and medium enterprise (SME) projects for Indians was made by the Cabinet last week.

“The RM180mil fund is intended to assist all segments of Indian entrepreneurs, including micro-enterprises,” Palanivel told a press conference yesterday after handing out cheques to recipients of Community Builders Foundation (CBF) pre-schoolers aid. He said his responsibility would be to monitor the loan applications as well as engage with the public.

“This is to ensure that genuine and deserving Indian entrepreneurs have access to finance to grow their business,” he said, adding that those interested to apply should contact SME Corporation Malaysia

The RM180mil loan was announced by Prime Minister Datuk Seri Najib Tun Razak last month at the Malaysian Indian Economic Conference.

Earlier this year, Palanivel was appointed as the lead minister in charge of economic transformation for the Indian community.

On the CBF pre-schoolers aid, Palanivel said about 1,257 children from poor families have been able to attend pre-school with the assistance.

“CBF have spent about RM695,000 to help these children attend pre-school,” said Palanivel, who founded the foundation in 1994.

On another matter, Palanivel said the decision on where he would contest in the 13th general election would only be made after the dissolution of Parliament. “I can stand anywhere, in Cameron Highlands, in Sungai Siput or Teluk Kemang. But right now I am only concentrating on how to win more Indian votes. Whatever decision will only be made after Parliament is dissolved,” he said.

Palanivel said MIC would field a mixed list of new and old faces for the elections.

“We will retain some old ones, but others who are deemed to have overstayed or are not popular will be dropped,” he said.