Why extend RMCO but not loan moratorium? Guan Eng proposes another RM45b in Covid-19 aid | Malay Mail

Saturday, 29 Aug 2020 05:41 PM MYTDAP secretary general Lim Guan Eng speaks during a press conference in Kuala Lumpur August 28, 2020. — Picture by Firdaus Latif

“Things will get worse without a government’s stimulus packages, wage subsidies and bank moratoriums. It is clear that an additional RM45 billion is needed to be injected to the already existing RM45 billion fund to save not only the jobs of Malaysians, SMEs but also manufacturers,’’ said Lim in a statement.

According to Lim, the banking industry can afford the moratorium as it has recorded a profit after tax of RM32 billion last year. Last month, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said borrowers must begin servicing their loans from October as the repayment moratorium will end as scheduled in September.

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