KUALA LUMPUR, May 5 — The reactivated National Shipping and Port Council (NSPC) will hold its first meeting in two months to discuss the direction of the maritime industry, address current issues and examine related policies to ensure that the local industry remains competitive, Minister of Transport Anthony Loke said.
The NSPC was first established in 2018 when Loke was Transport Minister for the first time, with regular council meetings held every three to four months at that time.
He said the main issues to be discussed at the NSPC meeting include bank financing as well as challenges related to the shipping industry ecosystem.
In Budget 2021 presented by then-finance minister Tengku Datuk Seri Zafrul Abdul Aziz, RM3.7 billion was allocated under the maritime and logistics development scheme, the sustainable development financing scheme, the tourism infrastructure scheme and the public transport fund to develop the transport sector.
However, in Budget 2023, the maritime industry’s allocation was reduced to RM1 billion and placed under the maritime and logistics scheme.
The application for the fund, which aims to modernise the country's maritime sector, is under the authority of Bank Pembangunan Malaysia Bhd but there are issues related to the application procedure and fund distribution.
— Bernama
