Fine-tune 2022 allocations for flood relief works, Tengku Zafrul tells ministries

  • Nation
  • Thursday, 20 Jan 2022

KUALA LUMPUR: Relevant ministries have been told to adjust their 2022 allocations for flood relief works, says Datuk Seri Tengku Zafrul Tengku Abdul Aziz (pic).

The Finance Minister said that the government was committed to fulfilling all the needs to address the impact of floods.

"For instance, the Housing and Local Government Ministry and the Rural Development Ministry have started repair and construction works by using the existing allocation of up to RM100mil," he said during a special meeting in Parliament on Thursday (Jan 20).

He revealed that the estimated losses caused by floods stood at RM6bil.

"However, some had estimated it to be up to RM20bil. But the initial estimation projected by the Department of Statistics Malaysia (DoSM) is about RM6bil," he said.

Aside from that, the insurance industry had also made an estimation for the losses which stood between RM2bil and RM3bil, added Tengku Zafrul.

When asked whether the government was prepared to extend the six-month loan relief programme which is expected to end in January, Tengku Zafrul said that he would raise the issue with the banks.

"And I will revert back on this matter, especially for those who are affected by the floods," he told Lim Guan Eng (PH-Bagan).

Bank Negara governor Datuk Nor Shamsiah Mohd Yunus had said that a blanket loan moratorium may not be the best solution for borrowers.

She said all banks have their payment assistance plans, including targeted loan moratoriums, which could be offered to borrowers who lost their jobs or suffered a reduction in income.

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