THE DAP urges Prime Minister Datuk Seri Ismail Sabri to extend the bank loan moratorium for another six months, together with interest waivers expiring in two batches; either at the end of January or February 2022.
Many complaints have been received of poor business sentiments and economic conditions coupled with rising prices.
Even though the Department of Statistics Malaysia (DOSM)reported that annual inflation rose by 2.5% in 2021 as compared to 1.2 % deflation experienced in 2020, the reality on the ground is prices are soaring, especially food items.
DOSM reported that the consumer price index (CPI) for Dec 2021 shot up 3.2% compared to the same month in 2020, surpassing the average monthly CPI inflation rate over the past decade (2011-2021) of 1.9%.
Even DOSM itself had admitted that the CPI rise was partly driven by higher prices for food and non-alcoholic beverages, particularly chicken, cooking oil and vegetables. Hence, an extension of the bank loan moratorium and interest rate waivers by another six months will help to save lives and livelihood.
The banking industry can afford to carry the burden when they were estimated to record RM20 bil in profit after taxes for 2021, despite bearing the cost of the previous interest rate waivers and bank loan moratorium last year. – Jan 25, 2022.
Lim Guan Eng is a former finance minister and the MP for Bagan
