By Harizah Hanim Mohamed

KUALA LUMPUR, Nov 7 -- Malaysia Shipowners’ Association (MASA) has called for an immediate disbursement of the RM3.7 billion allocation proposed in Budget 2021 for the Maritime Development and Logistics Scheme, to revitalise and revive the shipping industry.

It deems the allocation for the scheme alongside the Sustainable Development Financing Scheme and Tourism Infrastructure Scheme as well as the Public Transport Fund as the answer to MASA's Budget 2021 wishlist.

Nevertheless, MASA chairman Datuk Abdul Hak Md Amin acknowledges that the needs of each industry must be studied further particularly with regard to division of the allocation.

“Hopefully the bulk of it will go to maritime and eventually to shipping companies and shipyards,” he told Bernama.

He said the government must provide clarity on the disbursement of the allocation as it was long-awaited by the industry.

“There was allocation for the maritime industry previously but so far we have not seen it being utilised by the industry.. there is too much red tape and unclear requirements,” he added.

On Sept 17, 2019, the government relaunched the Maritime Fund (MF 2.0) worth RM1.5 billion through Bank Pembangunan Malaysia Bhd aimed at modernising the country’s maritime sector.

In tabling Budget 2021 yesterday, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the Maritime Development and Logistics Scheme, Sustainable Development  Financing  Scheme, Tourism Infrastructure Scheme and Public Transport Fund will be extended until Dec 31, 2023.

Apart from that, the minister said RM500 million from these schemes will be designated for Bumiputera entrepreneurs to increase their involvement in the key sectors.

-- BERNAMA