Loan repayment moratorium valued at RM51.4bil


  • Banking
  • Thursday, 09 Jul 2020

Despite being an interim measure, the granting of the moratorium was timely and able to assist the impacted groups, especially those who had lost their source of income, Finance Minister Tengku Zafrul (pic) said when presenting the latest report on the implementation of Prihatin and the National Economic Recovery Plan (Penjana) on his Facebook page yesterday.

KUALA LUMPUR: The moratorium on loan repayments by financial institutions, which took effect on April 1 as part of the Prihatin Rakyat Economic Stimulus Package (Prihatin), is estimated to be worth RM51.4bil as at July 6.

Finance Minister Tengku Datuk Seri Zafrul Aziz said of the total, RM17.9bil was utilised by the business sector while RM33.38bil was utilised by the public.

Despite being an interim measure, the granting of the moratorium was timely and able to assist the impacted groups, especially those who had lost their source of income, he said when presenting the latest report on the implementation of Prihatin and the National Economic Recovery Plan (Penjana) on his Facebook page yesterday.

The report was the 12th by the Economic Stimulus Implementation and Coordination Unit Between National Agencies (Laksana).

Tengku Zafrul, however, reminded borrowers that the moratorium period would end on Sept 30.

“For those who are facing financial difficulties and may need to restructure and reschedule their facilities, they are advised to get early targeted assistance.

“This can be done by consulting their respective financial institutions or the Credit Counselling and Debt Management Agency (AKPK) for advice, ” he said.

On the Bantuan Prihatin Nasional (BPN) aid, Tengku Zafrul said about 30,000 recipients received their payments via Bank Simpanan Nasional (BSN) branches nationwide between June 26 and July 6.

This raised the number of BPN recipients to 10.245 million with total payments of RM10.92bil, representing a 97.5% implementation rate.

On the BPN appellants group who were paid starting June 24, he said 140,000 single individuals and households had received the BPN assistance totalling RM120mil as at July 6 from an allocation of RM139mil. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

Across the site