The Barakat scheme has received over 6,000 applications worth RM52 million, with RM35 million approved to aid micro-entrepreneurs during Ramadan.
PUTRAJAYA: The Biaya Ramadan Perniagaan Rakyat (Barakat) scheme has attracted a robust response with 6,044 applications worth RM52 million submitted nationwide since its launch.
According to the Ministry of Entrepreneur and Cooperatives Development (KUSKOP), a total of 5,590 applications amounting to RM35 million have been approved for disbursement.
The ministry stated that the scheme, introduced by Minister Steven Sim Chee Keong, has gained strong momentum by providing crucial working capital for entrepreneurs to manage operating costs and meet high festive demand.
“The response is very encouraging, with entrepreneurs, particularly micro enterprises, showing strong interest since its launch,” said KUSKOP in a statement.
Minister Sim added that the initiative reflects the government’s commitment to reducing bureaucracy and expediting access to capital for the business community.
“It is in line with KUSKOP’s A.B.C.D Strategy, which focuses on Productivity Shift, Simplified Bureaucracy, Access to Capital and Market Accessibility,” he said.
Sim further emphasised that KUSKOP remains committed to improving the delivery of financing schemes to benefit more entrepreneurs and strengthen the national economy’s resilience.