2027 Budget: Govt raises Bumiputera contractors' procurement allocation to RM7.5bil
KUALA LUMPUR: The government will increase the value of government procurement allocated to Bumiputera contractors in grades G1 to G4 to RM7.5 billion under 2027 Budget, up from RM4 billion this year.
The Malaysian government has announced a significant increase in the procurement allocation for Bumiputera contractors in the 2027 Budget, raising the value to RM7.5 billion from RM4 billion this year. Prime Minister Anwar Ibrahim stated that this move aims to address concerns raised by Bumiputera contractors and strengthen their business capacity.
The government will also raise the limit for direct appointments in government facility maintenance, repairs, and upgrading works to RM200,000, and allow quotation-based procurement for projects worth up to RM3 million. Additional financing of up to RM1 billion will be provided by Teraju to monitor 32 Bumiputera projects more effectively, and financing funds provided by PUNB will increase to RM500 million.
The government will also introduce a stamp duty concession of RM10 for loan and financing agreements under the Cakna II scheme, and update GLC procurement guidelines, which have not been revised since 2006.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
