Anwar Calls for Merit-Based Entrepreneur Financing, Rejects Political Influence in Loan Approvals
PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim has reiterated the government’s commitment to strengthening integrity in entrepreneur financing by calling for an end to the use of political influence, letters of support and personal connections in the approval of government-backed business funding.
Speaking at the opening of SPaRK 2026 organised by Perbadanan Usahawan Nasional Berhad (PUNB), Anwar said financing decisions must be guided by transparency, business viability and accountability rather than political recommendations or personal relationships.
The Prime Minister, who also serves as Finance Minister, said practices that rely on letters of support and political patronage have existed for many years and have undermined both public institutions and the effectiveness of entrepreneurship development programmes.
According to him, financing granted on the basis of influence instead of business merit ultimately weakens government agencies while reducing opportunities for entrepreneurs with genuine business potential.
Anwar stressed that public financing should be allocated only to individuals who demonstrate commitment, capability and a serious intention to develop sustainable businesses.
He acknowledged that not every business venture can succeed, noting that changing market conditions and economic challenges may lead to commercial failure despite genuine effort.
However, he distinguished between businesses that encounter legitimate commercial difficulties and cases involving the misuse of public funds.
The Prime Minister said government assistance should never be diverted towards personal lifestyle upgrades, citing situations where financial assistance had allegedly been used to relocate to more luxurious offices or purchase vehicles instead of strengthening business operations.
He said such practices undermine the objectives of entrepreneurship financing programmes and reduce the effectiveness of public initiatives designed to support business growth.
According to Anwar, the government’s priority is to ensure that financing programmes deliver meaningful economic outcomes by supporting entrepreneurs who are prepared to manage their businesses responsibly and utilise public funds for productive purposes.
He added that improving governance standards within financing agencies is essential to protecting public resources while creating a more transparent and competitive entrepreneurship ecosystem.
The Prime Minister said strengthening integrity throughout the financing process would not only improve public confidence in government institutions but also help ensure that financial assistance reaches entrepreneurs capable of generating sustainable businesses, creating employment opportunities and contributing to long-term economic growth.
His remarks form part of the government’s broader agenda to enhance governance, improve accountability and promote merit-based decision-making across public sector programmes supporting entrepreneurship and business development.
