Automatic loan moratorium lauded

SEVERAL businesses and non governmental organisations (NGOs) have lauded the government’s RM150bil Pemulih Aid Package, saying that it would come handy for a lot of people in these trying times.

Small and Medium Enterprise Association (Samenta) said the six-month automatic loan moratorium for all borrowers would certainly free up the cash flow of many companies.

“The loan moratorium for the next six months is a positive move.

“The relaxation of the condition for wage subsidy with no salary limit conditions is another plus point, ” said Samenta secretary general Yeoh Seng Hooi.

The Penang Muslim League and affiliates, comprising of SMEs and micro traders welcomed the government’s aid package.

Its president Datuk Najmudeen Kader said the SMEs and micro traders needed to be protected as they were the backbone of the country’s economy.

“To ensure sustainability, the Muslim League urges the Government to establish SME/Micro Special Economic Action Council Task Force.

“The task force comprising the Chamber of Commerce and NGOs is meant to implement an immediate strategic and sustainable economic plan for the next one year, ” he said.

Meanwhile, money-changers sighed a big relief over the salary subsidy from the aid package.

Muslim Jewellers and Money Changers Association, Penang president Dr Anvar Hussein Rahumathullah said their workers would at least now have their pay.

“We are lumped under the tourism industry which is badly affected by the closure of international borders and interstate travel.

“At least now we could sustain our staff with the salary subsidy and do not have to lay them off.

“There are 70 money-changers in Penang, but only 50 are still doing business, while the others have closed down, ” he said.

Consumers Association of Penang (CAP) urged the government to also look into other means to help the people besides just allowing EPF withdrawals.

Its president Mohideen Abdul Kader said the government could introduce comprehensive social protection policies and schemes which would ensure the welfare and basic needs of the people were met.

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