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KUALA LUMPUR: There were 650,000 requests for the specific moratorium that took place on October 1, of which 98% had been approved.
Deputy Finance Minister I, Datuk Abd Rahim Bakri, said that of the approved requests, 40% were for the extension of the moratorium.
He said the applications were primarily from people who had lost their jobs and businesses in sectors still experiencing significant operational limitations as a result of the Covid-19 pandemic.
“Of the approved applications, 60% were for the reduction of monthly installment payments. These applicants were mainly borrowers whose wages had been deducted,” he told Dewan Rakyat on Thursday.
He was responding to Datuk Mohd Fasiah Mohd Fakeh (Bersatu-Sabak Bernam) who had asked him about the steps taken by banking institutions to continue helping households and businesses after the expiration of the moratorium on September 30, 2020.
Abd Rahim said the government had granted a six-month blanket bank moratorium as part of the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) to help ease the burden on individuals and businesses due to the impact of the pandemic in March 2020.
However, the government continued with the specific moratorium as of October 1, specifically for individuals and households or SMEs devastated by job and income loss throughout 2020 and probably 2021.
Abd Rahim explained that the specific moratorium was essentially deferring loan repayments for three months or reducing monthly installment payments for six months. – Bernama
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