.jpg "PKR president Datuk Seri Anwar Ibrahim delivers his speech during the PKR Information Convention in Ampang July 26, 2020. u00e2u20acu201d Picture by Yusof Mat Isa")
KUALA LUMPUR, July 30 ― The loan repayment moratorium extension announced yesterday did not provide any relief for significant parts of the country including the self-employed, said Opposition Leader Datuk Seri Anwar Ibrahim.
The Pakatan Harapan chairman lauded the Perikatan Nasional government’s decision to extend the moratorium for some sections of the country, but urged it to do more for those not covered in yesterday’s announcement.
He highlighted to the government that as many as one in five Malaysians in the country’s workforce were self-employed and would not benefit from the extension despite losing their income since the movement control order was first imposed on March 18.
“Over 90 per cent experienced a drop in income, and as much as 50 per cent losing all income.
“Thus, the measures which have been announced do not ensure benefits will reach the self-employed and those in the informal sector, especially the urban poor and rural groups,” Anwar said in a statement.
He also argued that the debt restructuring for small-medium enterprises also announced yesterday should be automatic rather than left to banks’ discretion.
“The relief which has been promised is not automatically guaranteed and banks may have ultimate discretion in determining who does or does not qualify for financial reprieve.
“I urge the government to exercise transparency and accountability in the delivery of this benefit to ensure assistance reaches those in dire need as efficiently as possible,” he said, adding the measures are a temporary solution to a deeper problem.
Anwar also accused the government of misrepresenting the actual stimulus in its Prihatin packages, noting that the bulk of it was not actual infusions into the economy or direct aid given to Malaysians.
The government has presented the stimulus package as worth RM250 billion.
“I am troubled by the recurring pattern of obfuscating facts while the real challenges facing Malaysians are not being adequately addressed. Five months into the pandemic we expect more honesty and a more complete approach to solving these problems.
“I urge the government to focus on developing comprehensive solutions to rising unemployment, poverty and inequality, establishing a sustainable social security program to assist the poorest segments of society while the economy recovers, and providing more support to individuals and small and medium enterprises struggling with financial burdens during the pandemic,” he said.
Yesterday, Prime Minister Tan Sri Muhyiddin Yassin announced that the government has agreed to further extend the bank loan moratorium for the public, which was slated to end in September.
The targeted moratorium extension will run for three months but is only applicable for those who lost their jobs this year and are yet to find employment, after which banks can extend the help on a case-by-case basis.
