Budget 2023 positive for OGSE sustainability drive – MPRC

Bernama English

24 Februari 2023

Budget 2023 positive for OGSE sustainability drive – MPRC

KUALA LUMPUR, Feb 24 (Bernama) -- The Budget 2023 will assist 2,009 oil and gas services and equipment (OGSE) small and medium-sized enterprises (SMEs) in their drive towards sustainability while creating a supportive environment for their recovery in the short term, said the Malaysia Petroleum Resources Corporation (MPRC).

In a statement today, president and chief executive officer Mohd Yazid Ja’afar said the agency welcomes the budget’s initiatives, such as the approximately RM10billion in financial assistance from Bank Negara Malaysia (BNM) to reduce SMEs’ financial burden and support business growth.

He said MPRC also welcomes the initiative where up to RM20 billion in loan guarantees for SMEs focused on areas, including high technology sectors from Syarikat Jaminan Pembiayaan Perniagaan (SJPP).

“These could address some of the most pressing issues faced by OGSE SMEs,” he said while reacting to the Budget 2023 tabled by Prime Minister Datuk Seri Anwar Ibrahim in Parliament today.

SJPP administers and manages credit guarantee schemes under the Ministry of Finance.

Mohd Yazid said the loan guarantee for high-technology SMEs could also benefit OGSE companies exploring new businesses related to the energy transition, hence, could encompass renewable energies and low-carbon solutions such as hydrogen.

“Some prolific approaches to talent management include the government’s attempts to coordinate international collaboration with foreign multinational corporations to provide apprenticeship opportunities in host countries where scholarships are provided.

“This is aligned with one of the OGSE Blueprint’s talent initiatives, namely the skilled worker retention programme,” he said.



(Web source: https://www.bernama.com/en/general/news.php?id=2167515)