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PETALING JAYA: A deputy from Umno today urged Putrajaya to exercise his powers to ensure that banks and credit institutions extend the moratorium on loans to those in need due to the problems caused by the Covid-19 crisis.
Discussing the 2021 budget today, Noh Omar (BN-Tanjong Karang) raised the financial constraints faced by express and school bus owners, as well as taxi owners who cannot pay their monthly fees and banks are likely to confiscate your vehicles.
The former minister said that these operators can also be declared bankrupt or blacklisted, so they will not be able to obtain loans in the future.
Noh said Putrajaya should not claim that he has no power to instruct financial institutions to extend the loan moratorium for the worst hit.
“They may not have the power to interfere, but remember that the banking license is issued by the government.
“When we are in power, we must be powerful. Otherwise, we will be fools, ”he said.
He also called for better coordination between different government agencies so that all those who need help, including businesses, receive the appropriate help.
Last week, BN Backbenchers Club president Najib Razak had said that his coalition will only support the 2021 budget if two conditions are met.
The first condition was to allow taxpayers to withdraw up to RM 10,000 from Account 1 of the Employee Provident Fund (EPF), while the second condition was the extension of the loan moratorium until next June. The loan moratorium was previously applied from April to September.
