DAP chairperson Lim Guan Eng has rubbished Finance Minister Tengku Zafrul Abdul Aziz's claim that another round of bank loan repayment moratorium was solely dependent on banks.
In a statement today, Lim said another repayment moratorium will only happen if another memorandum of understanding was signed between Pakatan Harapan and Prime Minister Ismail Sabri Yaakob or if the election were to be held next year.
"It is ultimately political will and not private banking considerations that will prove decisive, just as happened when the first memorandum of understanding was signed (between Harapan and the prime minister).
"Harapan will provide the necessary political and public support not just for a bank loan moratorium but also for an interest rate waiver for a specified period to help target groups.
"The government must give priority to the needs of the rakyat over the rather ample profit considerations of the banking sector," said Lim.
Bank Negara has raised its overnight policy rate three times in a row since May in response to similar moves by the US central bank.
Lim argued that the move was necessary to help businesses that are struggling to recover while dealing with high inflation and higher loan repayments due to recent series of interest rate hikes. - Mkini
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