MoF to extend moratorium for B50 through Urus

Deputy minister says Pemulih moratorium application is still open to borrowers

pic by BERNAMA

THE Finance Ministry (MoF) will extend the moratorium for individuals and enterprises who are financially impacted by the Covid-19 pandemic under the recently announced Financial Management and Resilience Programme (Urus) for the bottom 50% (B50) income group.

Deputy Minister I Mohd Shahar Abdullah (picture) told the Dewan Rakyat yesterday that Urus will also benefit borrowers and financial advisors to improve their financial resilience over the long term.

Mohd Shahar said this in reply to a question from Shah Alam MP Khalid Abd Samad on whether the government will extend the moratorium for borrowers.

The deputy minister said Urus includes interest-rate exemptions for up to three months, smaller instalments for up to 24 months and a lower interest rate.

“Other borrowers who are also affected and need loan repayment assistance after their National People’s Wellbeing and Economic Recovery Package (Pemulih) aids have expired, the bank will continue to assist by reducing their monthly instalments according to the borrower’s affordability,” he stated.

Meanwhile, borrowers can also apply for various programmes offered by the Credit Counselling and Debt Management Agency (AKPK), such as debt management programmes, small debt resolution schemes and financial resilience support schemes.

“This programme is implemented in partnership with the banking sector, which has facilities such as reduced monthly instalments and extension of the repayment period, as well as a support programme,” he noted.

Mohd Shahar added that the Pemulih moratorium application is still open to borrowers and applicants who were previously rejected can contact Bank Negara Malaysia (BNM) through its BNMTELELINK at 1-300-88-5465.