PETALING JAYA: Former finance minister Lim Guan Eng says the Pakatan Harapan government which collapsed last month was about to fulfil its manifesto promise on easing the burden of study loan borrowers under the National Higher Education Fund Corporation (PTPTN).
Lim, the DAP secretary-general, was referring to an election pledge by PH to exempt PTPTN borrowers earning less than RM4,000 a month from repaying their student loans.
He said a formula by PTPTN already got the green light from his ministry, under which Putrajaya would bear additional loans on top of existing ones borne by the government to finance PTPTN loans.
“Unfortunately, the PH government fell before this formal announcement could be made.
“Hopefully this pledge to help PTPTN borrowers to repay loans only when they earn more than RM4,000 monthly will still be fulfilled, despite the additional loan obligations that is to be incurred by the government,” Lim said today.
Yesterday, PTPTN chairman Wan Saiful Wan Jan told FMT in the final days of PH in power, he had submitted a proposal for a new repayment mechanism to the Cabinet.
“Essentially, what we were looking at was an overhaul of how PTPTN repayments were made.”
The management of PTPTN and the billions of ringgit worth of study loans owed by Malaysians over the years were among the focuses of the PH election manifesto.
The PH government fell following the resignation of Dr Mahathir Mohamad as prime minister on Feb 24. On March 1, the Yang di-Pertuan Agong swore in Muhyiddin Yassin as the eighth prime minister, who will lead a government made up of PPBM, Barisan Nasional, PAS, GPS and several MPs who broke ranks with PH.