Why use a sledgehammer to crack a nut?


Tengku Zafrul: Part of my responsibility as a Finance Minister is to avoid decision-making based on narrow short-term interests meant to serve a populist agenda, and do what is right for the rakyat, our market stability and the country’s long-term benefit."

WE are currently in MCO 3.0 lockdown mode, and there have been calls by various parties for an automatic blanket moratorium, like what we had during MCO 1.0.

First, a quick flashback. When we first instituted MCO 1.0, we understood so little of the virus, and with vaccines still a pipe dream, no one in the world knew how to contain it.

Among the various measures through the Prihatin package, Bank Negara and the banking sector agreed to provide a six-month automatic blanket moratorium for all borrowers.

Everyone enjoyed it, from the B40, M40 and T20, to businesses, big and small. Whether they needed it or not, the rich, the elite, big corporates and even companies recording massive profits, benefitted.

Start your ads-free experience now!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

UK inflation returns to target for first time since 2021
Asia stocks boosted by tech rally, Fed rate cut wagers
Companies crave fresh data to train AI models. This startup’s recipe? Data made from scratch – by AI
Scientex Packaging posts flattish 3Q net earnings of RM10.02mil
Top Glove returns to the black in 3Q
FBM KLCI falls as investors take profit
Linda Yaccarino shares her biggest moment of imposter syndrome from her last year running Elon Musk’s X
TA Securities sets 55 sen fair value for Go Hub Capital
KTI Landmark opens unchanged at IPO price of 30 sen
Ringgit gains against US$ in early trade

Others Also Read