FORMER Prime Minister Datuk Seri Najib Tun Razak questioned the Government on why they are reluctant to offer a blanket loan moratorium to businessmen and the people during the second lockdown.
“I have said this numerous times. The Government must instruct the banks to offer an interest free blanket loan moratorium as long as the country is under lockdown.
“Now, 125 non-governmental organisations (NGOs) claiming to represent one million small and medium sized businesses are making the same call.
“They say a loan moratorium is needed until Malaysia achieves herd immunity. Right now, no one goes out to work except those employed in factories,” he said, in a Facebook post.
Yesterday, Utusan Malaysia reported that 125 NGO representing small businesses urged the Government to offer a blanket loan moratorium to them for at least six months or until the nation achieves herd immunity against COVID-19.
The groups lamented that more that about one million small and medium sized businesses across Malaysia, which employs about seven million people, are in dire condition due to the lockdown.
“This is the least the Government can do for us and they won’t have to spend a single cent. Banks should not be allowed to take advantage of the situation and add burden to the already suffering masses,” they were reported saying.
Among the NGOs were Malay Economic Action Council (MTEM), Malay Chamber of Commerce (DPMM), Federation of Malaysian Traders and Muslim Consumer Association of Malaysia (PPIM).
Echoing their sentiments, Najib urged the Government to take the NGOs plea seriously as they were directly being impacted by the lockdown.
“A loan moratorium doesn’t mean they are going to default on their commitments. It’s just that they are having little income to continue further.
“This is not only affecting employers but also workers who are having their salaries cut,” the Pekan MP stated. – June 13, 2021.
