Why no blanket moratorium, asks Umno man

[superadmin]

PETALING JAYA: Umno Supreme Council member Puad Zarkashi has questioned the limited scope of the loan moratorium given under the Pemerkasa economic stimulus package announced yesterday.

He said the decision not to make it a blanket loan moratorium for all was very disappointing.

“This is the problem when a former banker becomes the finance minister. He still favours the banks, when they are already making so much profit during this pandemic,” Puad said on Facebook.

He said some of those allowed to enjoy the loan moratorium were big companies, multinational companies and millionaires.

A RM40 billion aid package was announced last night to help people and businesses through the national lockdown which starts today.

In a televised address, Prime Minister Muhyiddin Yassin said the relief package, named Pemerkasa Plus, involves RM5 billion in direct fiscal injection.

Muhyiddin said borrowers may choose to take up the moratorium or pay back their loans at a 50% lowered rate over six months. This will involve some five million people and a sum totalling RM30 million.


Source: FMT