Cuepacs: Some civil servants should qualify for new loan moratorium
The new loan moratorium scheme announced by Putrajaya should also be open to civil servants whose household income was affected by the Covid-19 outbreak, said Congress of Unions of Employees in the Public and Civil Services (Cuepacs).
In a statement today, Cuepacs president Adnan Mat said the income of some civil servant spouses in the private sector might have been affected in recent months which resulted in a drop in their household income.
The new loan moratorium scheme announced by Putrajaya should also be open to civil servants whose household income was affected by the Covid-19 outbreak, said Congress of Unions of Employees in the Public and Civil Services (Cuepacs).
In a statement today, Cuepacs president Adnan Mat said the income of some civil servant spouses in the private sector might have been affected in recent months which resulted in a drop in their household income.
"As an example, 'Ali' is a civil servant while his wife 'Julia' works in the private sector. They own a car and a house. The loan is in 'Ali's' name, but they financed the loan together.
"During the Covid-19 outbreak, 'Julia' lost her job while her husband is working as usual. In this case, 'Ali' should qualify for a loan moratorium and targeted aid because their household income is affected.
"Cuepacs hopes this is considered by the government and financial institutions," he said.
Earlier today, Prime Minister Muhyiddin Yassin announced that banks will offer a three-month loan moratorium for those who recently lost their jobs and have yet to secure a new job.
For those who with their income reduced, banks will reduce the monthly repayment amounts, proportional to the reduction in income.
Businesses will also be allowed to renegotiate the terms of their loans to seek reliefs such as only paying the interest portion of a loan for a certain period or extending the duration of the loan to reduce the monthly repayment amount.
Meanwhile, Adnan urged Bank Negara to impose a uniform set of rules for all banks in granting a loan moratorium or targeted help.
He said this was necessary to ensure individual banks do not impose its own conditions which would complicate matters for those needing help.
Are you sure you want to delete this comment?
This action cannot be undone.