Business group urges govt to fine tune Pemerkasa Plus’ moratorium


PETALING JAYA: The Federation of Malaysian Business Associations (FMBA) is urging the government to fine-tune the moratorium under the Pemerkasa Plus economic stimulus package to better serve all business types.

Among others, it proposes for the moratorium period to be set until Dec 31 and an “opt-out” system for those who do not wish to take part.

“We have handed over a letter to Prime Minister Tan Sri Muhyiddin Yassin, in which we acknowledged the proactive intervention of the Pemerkasa Plus stimulus package.

“But we also highlight that the moratorium, which has been announced as part of the initiative, will do little to move the needle in alleviating the debt commitments of both the rakyat and businesses.

“We have proposed eight parameters by which the Prime Minister and the Finance Ministry, together with Bank Negara, will be able to turn this moratorium into one that is both effective and covers a wider footprint – not only in the B40 group but also those in the M40 and all business types, the small, mid-tier and larger entities,” it said in a statement on Wednesday (June 2).

Among the listed proposals are setting the moratorium period until Dec 31 and to practise an “opt-out” system for those who do not wish to take part.

It also suggested for the moratorium to include all personal facilities, including housing loans, car loans and mortgages.

“We have made it very clear why the current moratorium will further push people into a deeper debt situation and into a position that we might not be able to reverse if not corrected immediately,” it said.

The statement was undersigned by both pro-tem president Datuk Abdul Malik Abdullah and Industries Unite converner Datuk David Gurupatham.

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