Micro credit for new businesses in FT

KUALA LUMPUR: The Federal Territories Ministry is working on a mechanism to enable micro crediting for new businesses.

Its minister, Khalid Abdul Samad (pix), said this is now possible as the Federal Territory, now, has its own administration.

“We (Federal territory) did not have micro crediting facilities in the past as compared with states like Malacca and Selangor as we did not have a state government,“ he said today.

“We are looking for a mechanism that will allow us to move forward with this where youths and businesses (in the Federal Territory) can benefit from it.”

Khalid said the government has reached a “certain level” that it is unable to create job opportunities in the public sector.

“Hence, we need to emphasise on alternative skills, which is also being worked on by the Education Ministry, the Ministry of Entrepreneurial development and the Ministry of Youths and Sports. We hope it bears fruit.”