The Labuan Corporation (LC) has announced a significant 50 per cent discount on monthly rental for traders operating at the wet and dry markets of the Urban Transformation Centre (UTC) at Pasar Sentral building.

The 50 per cent discount applies for an initial period of one year, starting from Jan 1 – Dec 31, 2023.

This proactive measure is expected to provide much-needed relief to vendors and stimulate economic growth within the Labuan community.

LC deputy chairman Simsudin Sidek said the decision to grant this substantial rental discount comes as a response to the challenges posed by the ongoing economic uncertainties and disruptions by among the small-time traders.

“Fishmongers, fresh chicken, beef and vegetable sellers, who form a crucial part of Labuan's local economy, have been grappling with reduced footfall and consumer spending, making it increasingly difficult to sustain their businesses.

"We recognise the vital role that these small-time traders play in ensuring a steady supply of essential goods to our community.

“This 50 per cent rental discount is a testament to our commitment to supporting their businesses during these challenging times.

“We believe that this reduction in rental expenses will ease their financial burden and provide them with the breathing space needed to navigate the current economic landscape,” he said to reporters today.

The current discount extends benefits to 330 lots, comprising 223 vegetable and fruit stalls, 90 fish stalls, 14 chicken stalls, and 3 meat stalls and to facilitate the rental rate reduction, Labuan Corporation has allocated RM59,400.00.

Traders operating within the UTC Pasar Sentral building welcomed the news with open arms.

Nor Raimah Ajiri, 59, a vegetable seller who has been operating at the market for over a decade, expressed her gratitude, saying, "The reduction in rental fees will significantly ease our operational costs and allow us to focus on providing quality products to our customers.

“This initiative shows that the local authority truly cares about our well-being and has invested in our success," she said.

Source: BERNAMA News Agency