Entrepreneur development minister renews call for higher allocation in Budget 2020

Entrepreneur Minister Redzuan Yusof speaking to reporters.

PETALING JAYA: Entrepreneur Development Minister Redzuan Yusof said it was important for his ministry to receive higher allocations during the tabling of Budget 2020 to help boost small and medium enterprises.

“Budget 2020 will be directed towards certain policies, for example, shared prosperity,” he said after officiating the Leadership Excellence Awards 2019, organised by Dex Prix Infinitus Media.

“If we are to increase the purchasing power of the low-income group, we need more allocations.”

Redzuan said he was leaving the final decision to the finance ministry.

Finance Minister Lim Guan Eng will table the budget in Parliament on Oct 11.

In the 2019 budget, the entrepreneur development ministry was allocated RM489 million.

Last week, Prime Minister Dr Mahathir Mohamad announced that the government would look into reducing the disparities between the rich and the poor, as part of the Pakatan Harapan’s “Shared Prosperity Vision” theme for its second year in power.