KUALA LUMPUR: The government will consider raising the allocation for the Business Accelerator for Indian-owned companies (I-BAP) to RM10 million in the upcoming Budget following overwhelming response since its launch in October last year.
Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri R. Ramanan said RM5.13 million from the RM6 million allocation this year has been approved and will be channelled to recipients, while the remaining RM800,000 is being processed for distribution, and noted that new applications have reached RM2 million, pushing total applications beyond RM8 million.