PM to announce loan moratorium extension, targeted bank assistance at 3pm


KUALA LUMPUR (July 29): Prime Minister Tan Sri Muhyiddin Yassin is expected to announce an extension to the loan moratorium period and targeted loan assistance in a live telecast at 3pm today, reported MalaysiaKini.

The six-month loan moratorium period which started on March 25, 2020, is supposed to end on Sept 30. The moratorium was introduced to ease the burden faced by the small and medium enterprises as well as individuals affected by the Covid-19 pandemic.

Earlier, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said banks were reportedly incurring a modification loss of RM79 billion over the moratorium period.

Meanwhile, a total of 7.7 million individuals and over 245,000 small and medium enterprises have benefitted from the moratorium.