Posts Tagged ‘Funds’

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Know India Programme for Youths

October 3rd, 2008
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The Know India Programme (KIP) is inviting applications for a three-week stay in Madhya Pradesh and Haryana.

Under the programme, students and young professionals of Indian origin from all over the world, will be able to share views, expectations and experiences with their Indian counterparts in a move to promote better understanding of contemporary India.

Although the cost of the stay in India is covered by the Ministry of Overseas Indian Affairs (MOIA), air travel on economy class to India will be funded by the applicants themselves initially.

The local Indian High Commission will reimburse half of the return airfare after participants return to their home country with proof of purchase and their air tickets.

Youth of Indian origin from 32 countries, including Malaysia, have been invited to apply for this one-in-a-million opportunity.

Applicants must be able to speak good English.Since the project started in 2004, 235 people aged 18 to 26 of various backgrounds have benefited from the experience.

Applications for the next trip, the 10th KIP visit, will close on Oct 15.

Interested youth (non-resident Indians excepted) are required to submit their names with two photographs by email and send their applications, with supporting documents, by post to the Indian High Commission at 2 Jalan Taman Duta, off Jalan Duta, Kuala Lumpur.

Application forms are available at http://www.cgimelb.org/media/pdf/kip%20form.pdf

Enquiries should be emailed to the MOIA director at dirss@moia.nic.in or the MOIA Undersecretary at usds2@moia.nic.in

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HINDRAF to reimburse the RM1000 fine

September 22nd, 2008
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PRESS STATEMENT

RE: HINDRAF WOULD UNDERTAKE TO PAY AND REIMBURSE THE RM1000 FINE PAID OR OWED BY ITS SUPPORTERS.

HINDRAF wishes to state that it would reimburse each and every of the 27 supporters who pleaded guilty on 18th September 2008 for the RM1000 they have paid or owe to the court in fine imposed for their participation on the peaceful HINDRAF rally on November 25th last year.

For those who have already paid the fine and those still owing to the court kindly contact our Selangor Coordinator Mr. Selvam on 016 9673066 to help facilitate transfer of funds and fine payment into court.

However we would continue to welcome any form of donations to help ease the burden of the remaining 27 who would undergo 2 months continued hearing beginning 23rd September 2008.

Those willing to make contributions could make their donations to our nominated accounts as below:

Bank – Public Bank Berhad

Account Name – P. Taramaraju & Aridass Velu

(Joint saving account)

Account No – 4-5235622-34

Tel No : 019- 330 5197

012- 332 3490.

Thank you

P.Waytha Moorthy

Chairman

HINDRAF

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MIC assured of mechanism to purchase shares and opportunity for contractors

September 12th, 2008
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Malaysiakini reported a great news from Deputy PM Najib. In a meeting (not the Cabinet Committee in Indian Community’s second meeting?), MIC manages to get an “assurance” that a mechanism to enable purchasing of shares by the Indian community will be created. This is crucial to reach the 3 percent equity by 2020(actually, I hope it will be revised to 10 percent equity. 3 percent is an insult to MIC and the Indian community.)

Samy Vellu said that PNB is requested to handle the scheme (I suppose to avoid another scandal ala MAIKA).

“I requested the government to arrange for Indians interested in buying shares, a partial grant and the rest of the money could be obtained through easy loans from banks,” he said in a statement.

He said Najib, who chairs the cabinet committee on the development of Indians, would discuss the matter with PNB to work out “an amicable and acceptable solution” to MIC’s request.

“The Indian community is still very much dependent on the government for assistance, especially in increasing their equity participation,” added the MIC president.

Samy Vellu also raised the possibility of joint ventures between Indian and bumiputera contractors to do government projects. He said the issues and concerns faced by Indian contractors was submitted to him by the Malaysian Indian Contractors Association recently. Many of them were finding it difficult to participate in government projects.

“I also proposed that Indian contractors be allowed to bid for selected government projects and the deputy prime minister was receptive to the idea. He said it can be worked out,” he said.

The government would work out a formula where more government projects could be given to Indian contractors provided they embark on joint ventures with bumiputera contractors.

He said Najib would resolve the issuing licenses to Indian contractors to carry out projects, especially Class F contracts.

“I am optimistic that all our requests will meet with positive outcome from the government,” he said, adding that follow-up would be done at the next meeting of the cabinet committee

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Housing fund proposal for estate workers

August 4th, 2008
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Human Resources Minister Dr S.Subramaniam proposed yet another fund for estate workers, this time for housing. Earlier, he talked about setting up retirement fund. This new fund is for those who have worked for more than 10 years to help purchase their own homes upon retirement. This is similar to the Felda scheme, where the employer would set aside RM100 monthly for each employee. This can avoid housing problems faced by those retiring. But looking at current increasing house prices, it may need RM200 per month to build a substantial amount.

Let’s see how many plantations will take up this suggestion. Perhaps the government can start the ball rolling by donating RM15 billion, which comes to about RM10,000 for each worker. Hmmm, that sounds like too much. How about RM15 million, which is RM1000 per worker?

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How many RM3 millions for Indians?

July 31st, 2008
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Today, Star reported that TEKUN has allocated RM3 million for young Indians (reproduced at the end).

The Government has allocated RM3 mil to provide financial aid to young Indian entrepreneurs, MIC president Datuk Seri S. Samy Vellu said.

He said that assistance would be channelled through Tekun Nasional, a body under the Ministry of Entrepreneur Development and Cooperatives and the MIC-owned Social Strategic Foundation (YSS).

On 4th June this year, Samy Vellu mentioned that TEKUN had allocated RM3 million as well. Is it the same RM3 million? At that time only 10 out of 300 students from INSKEN had applied for it.

If we go back to 3rd March this year, RM3 million is part of a special allocation by Economic Planning Unit, Prime Minister’s department. This RM3 million had been used as a revolving micro loan fund with Yayasan Tekun. I didn’t say that, Samy Vellu did.

In December 2007, Samy says this: “the Government provided business-training programs to Indian youths through the National Entrepreneur Skills institute while RM3mil has been allocated for business loans for Indians through the Tekun foundation”.

The RM3 million was first mentioned in July 2007 – “The government will also provide a special loan fund totalling RM3 million through Yayasan Tekun for 500 Indian youths to obtain micro business loans”. Yup, by Samy Vellu.

Hmmm…that’s quite a number of “RM3 millions”. Hope they are not the same. If not, it is the same RM3 million being rerun for last one year. But if not many applied, then it doesn’t make much difference does it?

According to TEKUN head Abdul Rahim, Tekun, which was set up in 1998, has already disbursed RM90 mil to bumiputras to develop their business and was expanding it to provide assistance to the Indian youths. He said a decision of the applications would be made within 14 days if all the documents were in order, compared to the previous period of three months.

Tekun would request additional allocation from the government if the RM3 mil allocation was inadequate.

The rest of the articles as follows:

Speaking to reporters after a briefing by Tekun managing director Datuk Abdul Rahim Hassan here Thursday, he said loans of RM10,000 each had been approved for three applications to develop their businesses so far.Samy Vellu said Indians below 40 should use the opportunity to seek the financial assistance from Tekun to upgrade their businesses.

“No one should come and say that the government has not done anything for the Indian community. There are opportunities available,” he said.

Samy Vellu said the MIC and YSS would also organise workshops in the respective states to disseminate the information on Tekun to the youths over the next two months.

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