Govt aid for SMEs: Can see, but cannot touch

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A major part of Putrajaya's policies to keep businesses afloat during the prolonged pandemic has been a mix of loan repayment moratoriums, grants, loans, and wage subsidies.Finance Minister Tengku Zafrul Abdul Aziz has repeatedly touted these measures as a major success. Yesterday, he said banks had approved RM12.12 billion in soft loans and RM1.215 billion in wage subsidies since the start of the pandemic.However, several seasoned entrepreneurs, who are struggling to access these benefits, said reality is a lot worse than the rosy picture painted by Putrajaya.The biggest problem faced by these entrepreneurs was that their loan applications were not only turned down by banks but were rejected verbally, leaving them with no proof to appeal their case.A footwear retailer, who wants to be known as Lee, said all the banks she approached for loans facilitated by Bank Negara tur…