Will Budget 2024 include enhanced sports incentives?

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Budget 2024 May Include Enhanced Sports Incentives

Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi has proposed tripling the rewards under the National Sports Incentive Scheme (Shakam) and expressed confidence that Prime Minister Datuk Seri Anwar Ibrahim will announce additional incentives for the sports sector in Budget 2024. While the proposal has been made, the actual inclusion of these enhanced incentives in the upcoming budget has not yet been confirmed.
Proposal to Triple Shakam Rewards

Datuk Seri Ahmad Zahid Hamidi suggested that the value of rewards distributed through the National Sports Incentive Scheme (Shakam) be tripled. He stated that current incentives are insufficient given the athletes' achievements on the international stage. Ahmad Zahid also noted that private sector entities have expressed willingness to sponsor, with the government potentially offering tax reductions for such contributions.
Shakam's Role and Current Incentives

The National Sports Incentive Scheme (Shakam) serves as a formal acknowledgement of the nation's appreciation for athletes who secure medals in significant sporting events. This includes prestigious competitions like the Olympic Games, Paralympics, Commonwealth Games, Asian Games, Para Asian Games, SEA Games, and Asean Para Games. Currently, the highest reward under Shakam is RM1 million for gold medalists at the Olympics and Paralympics, with incentives also extended for setting new records and for team accomplishments.
Recent Shakam 2023 Payouts

At the Shakam 2023 awards ceremony, substantial rewards were distributed to athletes. Medalists from the SEA Games received over RM1.2 million in total rewards. Similarly, athletes who competed in the Asean Para Games were presented with rewards amounting to RM1.18 million. Additionally, national athletes who participated in the 2023 Special Olympics in Berlin were recognised with incentives totalling RM95,500.
Confidence in Prime Minister's Announcement

Beyond the proposal to triple rewards, Deputy Prime Minister Ahmad Zahid conveyed his hope and confidence that Prime Minister Datuk Seri Anwar Ibrahim would announce further incentives for the sports sector within Budget 2024, which is slated for presentation in October. This indicates an anticipation of broader governmental support for athletes beyond the Shakam scheme itself.

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Will Budget 2024 include enhanced sports incentives?

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