KUALA TERENGGANU, May 21 — The Terengganu state government today announced Phase 1 of its State Economic Stimulus Action Plan to address the global supply crisis.
Menteri Besar Ahmad Samsuri Mokhtar said that several initiatives have been introduced to strengthen economic growth, support the sustainability of the micro, small and medium enterprises (MSME) sector, and assist rice production activities.
The main initiatives include the provision of a moratorium for borrowers under the Terengganu Sejahtera Entrepreneur Fund Scheme (TUTS) for seven months, from June to December 2026.
“This initiative is expected to benefit 783 borrowers, involving uncollected loan repayments amounting to RM2.1 million.
“In addition, the state government has also agreed to increase the fund allocation by RM2 million in 2026 so that more entrepreneurs can be assisted,” he said in a statement today.
Ahmad Samsuri said a moratorium will also be given to about 400 borrowers under the Agricultural Capital Assistance Scheme from this month until April 2027, involving uncollected loan repayments amounting to RM2.9 million.
He said incentives for rice farmers will also be provided at RM100 for every metric tonne produced, while for production exceeding 10 metric tonnes, a maximum incentive of RM1,000 will be given, adding that 4,513 rice farmers are expected to benefit from the allocation of RM3 million.
“The state government will also review the Schedule of Price Rates for selected construction materials, and contract cost adjustments will be implemented by taking into account current changes in the costs of the affected building materials.
“Focus will also be given to the implementation of small-scale projects that are high impact and low-hanging fruit,” he said, adding that the state government will also carry out a realignment of the 2026 Budget based on needs and more targeted strategies towards strengthening the economy.
“It is hoped that these initiatives will be fully utilised by players in the sectors involved,” he said. — Bernama
Date: 21 May, 2026 12:00 pm
Source: Malay Mail
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