Covid-19: Umno urges banks to be considerate

UMNO is asking the government to consider extending the moratorium period beginning Oktober to December 2020 to further reduce the people’s burden in facing the second wave of Covid-19.

In a statement today, the party president Datuk Seri Dr Ahmad Zahid Hamidi aired his concerned about the uprising trend in the pandemic.

He said Umno suggests that the government instruct the banking sector to halt the auction and bankruptcy proceeding on those who defaulted in servicing their loans since the pandemic has led to job and income losses.

“The auction proceeding and others on guarantors should be taken six months or a year after the moratorium ends. The banks must be considerate enough over the plight of those who are affected by the Covid-19, thus should consider them,” he said.

The government had in Mac announced a moratorium on all loan repayments, including hire-purchase by individuals and small-and-medium industries (PKS) for six months with effect on April 1st.