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Monday, October 3, 2022
HomeNewsIsmail Announces More Flood Relief Funding For The People And Businesses

Ismail Announces More Flood Relief Funding For The People And Businesses

The federal government has announced that it will be providing financing of up to RM5,000 through Bank Simpanan Nasional to entrepreneurs who are affected by the floods, the Prime Minister Ismail Sabri Yaakob said.

In a statement, Ismail said the financing will be interest-free and the repayment period to commence only after 6 months of the agreement being signed.

In addition, he said the government-linked investment companies (GLICs) and government-linked companies (GLCs) have agreed to contribute a sum of RM50.8 million to assist in flood management and post-flood recovery efforts.

“GLICs and GLCs that have contributed include Petronas, Petronas Foundation, Khazanah Nasional and Yayasan Hasanah, Sime Darby Foundation, CIMB, Celcom, Telekom Malaysia, UEM Foundation and the Employees Provident Fund.”

Source: Daily News

“With a government grant of RM25 million, this means the fund to handle the impact of floods and post-flood recovery is RM75.8 million.” he said.

Besides, Ismail said the government has agreed to provide 2 months rent free to tenants of SME Bank’s Entrepreneur Premises Complex who are affected by the floods.

Meanwhile, he said the government has allocated RM30 million for flood recovery loan through Tekun Nasional. 

Source: Malay Mail

“Affected cooperatives will also be assisted through the Cooperative Commission of Malaysia’s Cooperative Emergency Assistance up to RM30,000.”

Ismail also said the National Security Council (NSC) will issue instructions to all parties on immediate actions that need to be taken to respond to the flood.

“The National Disaster Management Agency will remain the main secretariat for disaster management and handle all coordination. If an action is not complied with, NSC will issue further instructions,” he added. 

Ismail also commented on the situation Taman Seri Muda, which is one of the worst flood-hit areas in Shah Alam, adding that the authorities will resolve this immediately.

Source: Malay Mail

“As of this evening, 41 boats, 16 lorries, and other assets have been mobilised to Taman Seri Muda along with 321 rescue team members,” he said.  

Meanwhile, the Environment and Water Ministry, through the Irrigation and Drainage Department, has also been instructed to immediately mobilise 20 mobile pumps, in addition to four existing pumps, to affected areas.

“This is to pump water from areas experiencing stagnant flooding to nearby rivers. Additional pumps obtained from various agencies, including those owned by the Selangor DID, will be used to drain stagnant water into the Klang River.”

“I also agree with the proposal that some parts of the river embankment be broken or drilled temporarily to drain the stagnant water immediately out into the river. The locations of the perforations are being finalised,” he said.

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