PETALING JAYA: Umno president Ahmad Zahid Hamidi has raised concerns after the loan repayment moratorium applications of several people in the M40 middle-income group and small traders were rejected.
In a Facebook post, he cited complaints from the public saying that the application process is not as easy as reported.
Zahid said one individual visited a bank to apply for the moratorium but came away saying the encounter felt like “he was going for an interview for the position of a director”.
He said the individual was questioned on his salary and monthly expenditure, and was simply told that he had enough money to pay for his car installments.
“Of course (there is) enough to pay for car installments, but it is not enough to support the whole family at a time when household income is affected,” the Bagan Datuk MP said.
Umno has been pushing for automatic moratoriums, but Putrajaya has so far said it is up to banks to give targeted moratoriums.
Finance minister Tengku Zafrul Aziz had said at least 80% of borrowers in Malaysia do not need automatic moratoriums as imposed during MCO 1.0 and could continue repaying loans.
The minister had said that those who still need help repaying their loans could ask for help from banks – in the form of a three-month moratorium or a six-month reduction in loan repayments.
However, Zahid said even small traders were faced with several conditions to qualify for a moratorium.
They need to show proof of loss of income, Zahid said.
“The problem is the small traders have no evidence other than bank statements and internal business records.
“Many of them do not have payslips, EPF statements or letters to show any job loss,” he said.
Furthermore, those eligible for a moratorium were slapped with monthly interest, he added.
Zahid urged the government not to be “too calculative” and to help the rakyat “sincerely”. - FMT
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