Micro-credit for Chinese hawkers, petty traders through YPPKM
GEORGE TOWN: Thanks to 1Malaysia Hawkers and Petty Traders Foundation (YPPKM) an elderly couple here no longer had to contend with a small trolley to peddle their 'nasi lemak' which they sell for RM1 from Thursday till Sunday around the Jelutong market.
Quah Ah Hin, 66, and his wife Ong Ah Sim, 64, who depended on their mini enterprise to earn a living and support a disabled son are now happily using a push cart given by the federal government through YPPKM.
"I am so grateful for this aid, because this cart really eases our burden, particularly my wife's," Quah told Bernama recently.
He cannot see properly and has trouble walking following an accident some years back.
Ong said she and her husband were able to load 300 packets of nasi lemak into the cart compared to only 50 packets with the trolley.
"We wake up as early as 1am to fry the anchovies, cook the rice, prepare the paste and pack them," she said.
YPPKM which was launched by Prime Minister Datuk Seri Najib Abdul Razak in 2015 is a micro credit scheme with a fund of RM70 million for Chinese hawkers and petty traders in the country.
Vegetarian food seller Ooi Kim Yew, 32, applied for RM15,000 from the foundation early this year and received the loan in May based on a rate lower than that offered by the banks and a repayment period of 48 months.
"I am really grateful that the federal government still cares about us Chinese hawkers. With the loan I expanded my business, adding the variety of food I sell, such as 'pau', 'bak kut teh', 'tom yam rice', 'ikan tiga rasa', 'mee kari', and 'hokkien mee'.
"My daily income has also increased by 30%," he said.
Meanwhile, Penang Gerakan vice chairman Oh Tong Keong said since YPPKM's launch two years ago, 270 traders had applied for loans of up to RM20,000, of which 180 had been approved, with a repayment period of five years.
He said YPPKM did not impose any criteria. Petty traders and hawkers aged between 18 and 60 need only register their business with the Companies Commission of Malaysia and provide a guarantor to complete the application.
"I hope more Chinese hawkers and petty traders would apply for the assistance; the number is still low as many of them are still unaware of the programme," he said. — Bernama