Tag: end of 2026

PBTs Urged To Consider Rental Cuts Until Year-End

PUTRAJAYA, May 14 -- Local authorities (PBTs) nationwide have been urged to consider reducing rental rates for business premises, stalls and food courts under their jurisdiction until the end of 2026. Housing and Local Government Minister Nga Kor Ming said the move was a proactive effort by the MADANI Government to safeguard public welfare and assist hawkers and small traders currently coping with rising operating costs. “This strategic move aims to ease the burden of operating costs faced by local hawkers and small traders, thus stimulating economic growth at the grassroots level,” he said in a statement today. He said that the initiative could also help ensure the continuity of business operations, sustain job opportunities and strengthen the economic resilience of the local community. “By providing this rental reduction, we are not only assisting small traders to stay afloat, but also helping to ensure the stability of prices of goods and services for consumers,” he said. Nga said that the ministry would work closely with all PBTs to identify suitable implementation methods based on financial capabilities and local needs, to ensure public well-being and the urban economic ecosystem continued to be strengthened. “The welfare of the people has always been a priority for the MADANI Government. We want to ensure that no group is left behind in national development and continues to benefit from the country’s economic growth,” he said. Nga said that the move would also complement various ongoing efforts to assist the people and the small business community, including entrepreneurship assistance programmes, the provision of more conducive business facilities, the upgrading of food courts and public markets, and initiatives such as MyKiosk. Last Tuesday, the National Economic Action Council (MTEN) urged PBTs and state governments nationwide to reduce rental rates for premises or shops under their jurisdiction with immediate effect. Economy Minister Akmal Nasrullah Mohd Nasir said the move was crucial in helping small traders, night market operators and micro-entrepreneurs cope with rising operating costs, which account for an average of between seven and 58 per cent of total business expenses. “They are exposed to weak cash flow and often rely on a single source of income. Without intervention, the risk of business closures could increase significantly,” he said during the online briefing on the global supply crisis. --BERNAMA

PUTRAJAYA, May 14 — Local authorities (PBTs) nationwide have been urged to consider reducing rental rates for business premises, stalls and food courts under their jurisdiction until the end of 2026. Housing and Local Government Minister Nga Kor Ming said the move was a proactive effort by the MADANI Government to safeguard public welfare and […]