PM: RM50mil allocated for aspiring home food business owners

SERDANG: RM50 million has been allocated by the Government to support individuals who want to begin home-based food businesses, says Datuk Seri Ismail Sabri Yaakob.

The Prime Minister said the allocation also applied to those purchasing machines for food business and the purchase of motorcycles for those intending to perform food delivery jobs through e-hailing platforms, among others.

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“This amount will be allocated through Agrobank under the Pemulih NewBiz Financing Fund, whereby it offers funding up to RM5,000 for the first stage and RM10,000 for the second stage,” said Ismail Sabri.

“Applicants will also be given a moratorium for the first six months and charged a 3% profit rate for the seventh month, with a maximum financing period of 60 months or five years,” he added when launching the Malaysia Agriculture, Horticulture and Agrotourism Exhibition (Maha) 2022 on Saturday (August 6).

Also present at the event was Agriculture and Food Industries Minister Datuk Seri Ronald Kiandee.