DAP willing to work with all parties to press for loan moratorium extension

29-Oct-2020 Intellasia | Malaysiakini | 6:02 AM Print This Post

DAP said it is willing to work with all parties to pressure prime minister Muhyiddin Yassin to extend the bank loan moratorium which ended last month.

Among those pushing for the moratorium to be reinstated is DAP’s bitter rival Umno, with its former president Najib Abdul Razak among the proponents.

In a statement today, DAP secretary-general Lim Guan Eng (above) said an extension until March 2021 was needed as the people are suffering.

He also said that the third wave of Covid-19 infections had dampened economic recovery, especially for small businesses.

“If Muhyiddin refuses to listen to the more than 6.6 million borrowers left out when the loan moratorium expired on September 30, then all political parties should collaborate together to press for the automatic extension of the loan moratorium by another six months, to save Malaysian jobs and businesses,” he said.

The loan moratorium had been in force for six months until the end of last month.

However, those who have lost their jobs and have yet to be re-employed will get a three-month extension.

Those who had their salaries cut are also eligible for reduced repayment rates.

Lim said extending the moratorium would cost RM6.4 billion, which the banking industry could afford.

Najib had said that extending the loan moratorium was one of the things Umno could achieve if it allied with PKR president Anwar Ibrahim, on the condition that Umno is given a role in managing the country’s economy and finances.

However, he said this cooperation would also be conditional on DAP not being in the picture.



Category: Malaysia

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