Make licensed moneylenders offer repayment moratorium, Zuraida told

KUALA LUMPUR, Nov 25 ― Housing and Local Government Minister Zuraida Kamaruddin should persuade licensed moneylenders to give their borrowers a moratorium on repayments due to Covid-19, said Tan Sri Noh Omar.

The former minister told Zuraida to act now instead of waiting for the pandemic to worsen.

“I disagree when you (Zuraida Kamaruddin) say in the Act you don't have the power to 'force' them (licence creditors) to offer moratorium.

“But as what Jelutong (MP RSN Rayer) said, the power to issue licence is under your ministry YB, you can call them,” he said when interjecting into Zuraida’s winding-up speech on the debate of Budget 2021.

He rejected Zuraida’s assertion that a new law would be tabled on this matter, saying borrowers were facing difficulties now and could not wait for a law that has not even been tabled.

She made reference to such a law during her speech, and denied that her ministry has the authority to compel moneylenders to offer a repayment moratorium.

“Now. Those harsh action needed to be taken now to protect those who need help,” he added.

Earlier, Zuraida told the Dewan Rakyat that 22 licensed lenders have agreed to offer moratoriums for their borrowers or lowering repayments.

She made the remarks when responding to Rayer’s call for her ministry to assist bus operators secure a postponement of their repayments to licensed moneylenders.