Gov't raises another RM500 mil for Teras Programme

BUTTERWORTH: The government will be adding another RM500 million to the Teras (High-Performing Bumiputera Companies) Funding Programme to enable more companies to be developed via the programme.

Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop said the additional funds will be channelled into the programme once the existing RM500 million fund is fully utilised.

He said the additional funding also reflected the good response the programme has been receiving from Bumiputera small and medium sized enterprises.

“The Teras progamme has shown good success and the government has indeed been planning on increasing the funding by another RM500 million to enable many more Bumiputera companies to be established through the programme.

“The government will channel the funds through the Bumiputera Agenda Steering Unit (Teraju) which has been tasked with managing the Teras programmes,” he told reporters after launching the Newspaper in Education (NIE-NST) sponsorship programme for schools under the Tasek Gelugor parliament constituency here yesterday.

Nor Mohamed said this when asked to comment on a newspaper report on Wednesday that Teraju had requested the government to increase the funding for the Teras programme following the good response for the funds after its launch in August.

Teraju’s Chief Executive Husni Salleh was quoted saying that there was a high possibility that they would seek additional funds if the existing funds are used up in the near term.

The Teras programme was launched by the government to help grow and increase the participation of Bumiputera SMEs in the country’s economy.

Meanwhile, on the newspaper sponsorship programme, Nor Mohamed, who is the Member Parliament for Tasek Gelugor, said the move was part of government efforts to build up students’ skills in the English language.

“It would also help create a knowledgeable community in line with the aspiration of a developed country by 2020. The government wants the people of Malaysia to have the command of at least two languages, Bahasa Malaysia and English and this (sponsorship of newspapers in classrooms) is one way,” he added.

A total of 31 secondary schools in Tasek Gelugor will receive the newspapers throughout this year and 2013 under the sponsorship.

Taken from: