With the state government of Penang waiving a month’s rent for business premises, Chief Minister Chow Kon Yeow called on private business property owners to follow the move.
He revealed that the state – along with the Penang Island City Council as well as the Seberang Prai City Council – will not collect rental charges for shoplots, public markets and others in April.
A part of the Covid-19 economic stimulus package, the move aims to ensure that businesses will not encounter any disruption in their operations, reported The Star.
“The waiver will be implemented in April and will involve 5,352 business premises,” said Chow in his Covid-19 Facebook live message.
He noted that the government will bear a total amount of RM1.62 million from the waiver.
“I hope owners of private business premises will also do the same for their tenants,” he said.
Chow further revealed that an amount of RM30 million have been allocated to help small and medium scale enterprises (SMEs) as well as micro business entrepreneurs, under the Penang Business Continuity Zero Interest Loan.
“It is to help business owners during this difficult time where it is not only interest-free, but the borrower is only required to repay after six months of obtaining the loan amount,” he said.
“My office has also contacted the Federation of Malaysian Manufacturers, Penang and various chambers of commerce in the state to get their feedback…We want to know how the state government and the private sector can work together to rebuild the economy of Penang.”
Meanwhile, he noted that several initiatives had also been agreed upon at the security council meeting.
“They are to be carried out in the second phase of the movement control order (MCO), which was extended to 14 April,” said Chow.
He added that the state police chief informed him that Penang had a 95% MCO compliance rate as at 29 March.