Prime Minister Tan Sri Muhyiddin Yassin has announced a RM15 billion special aid package called PERMAI – Pakej Bantuan Perlindungan Ekonomi dan Rakyat Malaysia (The Malaysian Economic and Rakyat Protection Assistance Package). Here are the initiatives he announced regarding loans, the Employees Provident Fund’s (EPF) i-Sinar programme and National Higher Education Fund Corporation (PTPTN). Moratorium and loan restructuring period extended Moratoriums and loan restructuring is extended and will be offered by banks. For states hit by floods, 15 banks have already offered to extend as such. To date, Muhyiddin stated that over 1.3 million borrowers have applied and received the loan restructuring assistance, with an approval rate of 95% for individual borrowers and 99% for small and medium enterprise (SME) borrowers.