06-05-2025
- Business
- New Straits Times
Special consideration package under review, likely by July, says Tengku Zafrul
KUALA LUMPUR: The government's Special Consideration Package—designed to assist industries impacted by global trade realignments and US-imposed reciprocal tariffs—is still being finalised and is expected to be announced by July, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
Speaking at the Ministry of Investment, Trade and Industry's (MITI) First Quarter 2025 Performance Report briefing today, Tengku Zafrul said that discussions with affected companies remain a top priority.
"We may announce it after July, as our current focus is on discussions with companies. Once we understand the impact, identify the affected companies, and determine which supply chains are disrupted, we will be able to make a decision," he told reporters during MITI's First Quarter 2025 Performance Report briefing today.
This follows Prime Minister Datuk Seri Anwar Ibrahim's earlier announcement of key elements under the broader package, including an additional RM1 billion in guarantees through the Business Financing Guarantee Scheme to help small- and medium-sized exporters access commercial bank loans. A
Another RM500 million in soft loans will be chanelled through development financial institutions to support SMEs hit by US tariffs, with close monitoring for effective implementation.
Tengku Zafrul said that while the ministry aims to provide as much support as possible, certain financial considerations must be carefully assessed to avoid straining the government's fiscal position.
"Our investment division is committed to helping as much as possible, but at the same time, there are fiscal concerns that need to be reviewed before making a final decision," he added.
Industries most impacted by the trade measures include electrical and electronics (E&E), machinery and equipment, medical devices, furniture, palm oil and rubber, pharmaceuticals, automotive, and aerospace.
Tengku Zafrul also noted that some sectors have yet to fully tap into existing government support facilities, suggesting a need for further evaluation before finalising the package.
The Special Consideration Package is expected to include additional incentives for companies affected by adjustments to global trade and investment policies, including tax and export-import tariff measures.
