Finance Minister Tengku Zafrul Tengku Abdul Aziz (third from left) with Prasarana Malaysia chairman Tajuddin Abdul Rahman (left) after visiting the Prasarana Malaysia Berhad headquarters as we speak.KUALA LUMPUR: The federal government is partaking with banks to increase the six-month moratorium on bank loans, Finance Minister Tengku Zafrul Tengku Abdul Aziz mentioned as we speak.
He mentioned this follows many requests by individuals to increase the moratorium which ends in September. Zafrul, nevertheless, mentioned this was as much as the banks.
“There have been many requests from individuals who want extra time beneath the moratorium (to settle their monetary issues).
“As for the government, we are engaging with the banks. It is really up to the banks on whether they can or cannot (extend the moratorium),” he informed reporters after visiting the Prasarana Malaysia Berhad headquarters as we speak.
“We can focus on targeted groups. But we cannot force the banks,” he mentioned.
Tengku Zafrul suggested individuals to begin discussing with banks on restructuring their loans now because it was nearing the moratorium deadline.
In the meantime, on the world gross home product (GDP) shrinking to 4.9%, he mentioned Malaysia as a worldwide economic system is not going to be excluded from the destructive results.
He mentioned Malaysia’s GDP for the third and fourth quarter of 2020 would rely on how the nation fights the Covid-19 pandemic.
He reiterated that Malaysia’s fiscal deficit is predicted to extend between 5.8% and 6% of GDP this 12 months following the announcement of varied financial stimulus packages after the economic system was badly affected by the Covid-19 pandemic and ensuing motion management order (MCO) to regulate its unfold.
He added that the financial stimulus packages have been dynamic. “If there are any new ideas, we need to hear them.”
In the meantime, Tengku Zafrul mentioned the federal government had allotted RM200 million for the My30 limitless journey passes for RapidKL’s LRT, MRT, BRT, monorail and buses to spice up the economic system.
For the reason that My30 initiative was launched on June 15, greater than 62,000 journey passes have been bought.
“This is something that has been very encouraging considering the My30 initiative was carried out during the recovery MCO (RMCO) period,” he mentioned.
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