PH leaders call for 3-month moratorium on bank loan repayments

Pakatan Harapan leaders have proposed measures to help Malaysian businesses and citizens through the Covid-19 crisis.

PETALING JAYA: Pakatan Harapan has proposed measures to help Malaysian businesses and employees endure the crisis sparked by the Covid-19 outbreak, including a three-month moratorium on bank loan repayments.

In a statement, the coalition’s leaders said such a move would help safeguard employees and businesses who took loans.

The huge profits made by banks, they said, would allow them to cushion their losses.

“This is the role banks can play to ensure business and employment continuity to prevent a systematic collapse,” they said.

The statement was signed by PKR president Anwar Ibrahim, Amanah president Mohamad Sabu and DAP secretary-general Lim Guan Eng.

The PH leaders also called for additional incentives and facilities to be provided to civil servants on the frontline who, they said, were risking their lives to protect the people from the pandemic.

They urged the government to increase spending to help small-medium entrepreneurs across all sectors, especially those in the tourism and sundry businesses.

“A three-month exemption from tax and licensing fees should be given,” the statement said.

They also said Bank Negara Malaysia should allocate funds for interest-free loans to help the different sectors.

Yesterday, the government said a total of 790 people had tested positive for the virus so far.

Worldwide, the Covid-19 pandemic has led to over 8,000 deaths and close to 200,000 cases of infection.

Putrajaya has since imposed a movement control order to curb the spread of the virus, which is in effect from yesterday until March 31.