The government is expected to table the proposed small and medium enterprise (SME) masterplan for the years 2011 to 2020 by June this year. International Trade and Industry Deputy Minister Datuk Mukhriz Tun Mahathir said the government and other related agencies are currently studying the matter and putting in the details before tabling it to the Cabinet.

It was reported that the SME masterplan is aimed to increase and synchronise the development of the sector with the new economic model.

The proposed masterplan was announced by Prime Minister Datuk Seri Najib Razak after he chaired the 10th National SME Development Council meeting in Putrajaya last month.

Among others, through the masterplan, the government hopes to facilitate the development of SMEs from all aspects, including funding, capacity-building and logistical support.

This is in effort to grow the industry from small successful local entities to regional and global levels.

Mukhriz also noted that the government allocated a total of RM15.6 billion under its two fiscal stimulus packages, benefiting more than 56,000 SMEs as of end December 2009.

"In the same period, close to 76 per cent of the funds were approved to the sector," he said.

Speaking to reporters after the closing ceremony of SME Bank's manufacturing scheme programme in Shah Alam, Selangor, yesterday, Mukhriz said the government has received a proposal for new fund allocation from SME Bank under the 10th Malaysia Plan.

"We have received the proposal from SME Bank and we are looking into their request very closely," he said, but did not elaborate.

To date, the government has allocated RM334.76 million to enable SME Bank to conduct its entrepreneurship programme nationwide including developing industrial parks under the scheme.

The SME contribution to the country's gross domestic product is expected to rise to 37 per cent in 2010, from 32 per cent last year.