By Adrian Lim
KUCHING, June 28: All individual borrowers will be granted a six-month loan moratorium irrespective of their income groups, says Prime Minister Tan Sri Muhyiddin Yassin.
Muhyiddin during a special address today when announcing the Economic Recovery and People’s Protection Package (Pemulih) said the government is aware of the grousers made by all groups of people and not just from the B40 income group.
“With that, I would like to announce that with the cooperation of banks a six-month moratorium will be given to all individual borrowers whether they are from the B40, M40 or T20 and micro entrepreneurs.
“There will not be conditions such as reduction in salary, loss of job or documents that need to be submitted for the application
“Borrowers only need to apply and approval will be given automatically,” he said when announcing Pemulih today.
Meanwhile, the Pemulih assistance package was worth RM150 billion with fiscal injection of RM10 billion.
Muhyiddin added that the loan moratorium will also be offered to small and medium enterprises (SMEs) subject to review and approval by the banks and application will open on July 7.
He said borrowers will only need to apply and sign an agreement to alter the terms of their loans. — DayakDaily
