This comes under a RM48.52 million microfinancing scheme announced by Prime Minister Ismail Sabri Yaakob today.

In his speech at the Hawkers and Petty Traders Day celebration today, Ismail said the shariah-compliant loans would be offered by Bank Rakyat, an agency under the entrepreneur development and cooperatives ministry, to improve and redevelop existing businesses.

The loans, amounting to between RM10,000 and RM50,000, can be paid back over five years.

Ismail said the money can be used as working capital; for the purchase of equipment or hardware; or, to pay salaries, rental, utilities and other expenses.

Noting how hawkers and petty traders had been among the most affected by the Covid-19 pandemic, he urged them to “make use of this opportunity to ensure business continuity”.

Today’s celebration in Putrajaya was also held to coincide with the launch of the Pasar Malam Transformation programme, which Ismail said would see the government allocate RM25 million to rejuvenate 50 pasar malam (night markets) across the country from next year.

Taking into consideration the new normal, one of the key aspects of this transformation includes the introduction of night market marshals. Aside from ensuring the smooth operation of such venues, they will also make sure there are no groups of people mingling at the entry and exit points of the markets.

“We hope all parties, especially the local authorities and state governments, can adapt to this Pasar Malam Transformation programme across the country,” Ismail said.

“Night markets provide the rakyat with a platform to get their daily needs while reducing the middlemen.”