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Loan moratorium returns
Modified12:16 am
Key Highlights
Loan moratorium returns
Prime Minister Muhyiddin Yassin unveiled an RM150 billion stimulus package in conjunction with the indefinite extension of the total lockdown.
A key announcement was the reintroduction of a six-month bank loan moratorium for all individual borrowers regardless of income levels.
One main difference is that it will be on an opt-in basis this time. However, Muhyiddin assured the applications will be approved without any conditions or document requirements.
However, applications from small and medium enterprises (SMEs) are still subjected to bank approval.
The Small & Medium Enterprises Association appealed for the moratorium to be made automatic for SMEs as many who have missed payments while struggling to keep afloat during the pandemic have a hard time getting approval.
PETALING JAYA: Unions say workers are ready to return if more economic sectors gradually reopen, provided that the herd immunity among workers has been achieved and tight standard operating procedures are practised at workplaces.
Malaysian Trades Union Congress deputy president Mohd Effendy Abdul Ghani said as workers wanted to keep their jobs, there was the worry that some employers might not follow the SOP once given the green light to operate.
“The government has announced the National Recovery Plan, which is to partially open once the number of cases has gone down. We want industries to reopen but what we want more is for the government to completely focus and intensify the vaccination of workers from all sectors.