Floods: Tekun, Agrobank borrowers allowed to defer loan payments

Borrowers of Tekun Nasional loans who were affected by floods can defer their loan payments by up to three months, said Agriculture and Agro-based Industry Minister Datuk Seri Ismail Sabri Yaakob.

He said as for flood victims who had taken Agrobank loans, they could defer payments by up tp 12 months if 80 to 100 per cent of their crops were destroyed.

"We will restructure or reschedule Tekun Nasional and Agrobank loans of flood victims.

"They are going through trying times and we understand their situation," he told reporters after handing over post-flood aid worth RM2.03 million to assist 20,300 households which were affected by the devastating floods in Pahang, here Tuesday.

The aid in the form fresh and canned food was handed over to among others the Umno division chiefs of Temerloh, Jerantut, Maran and Kuala Krau, which were badly hit in the flood disaster in the state.

Ismail Sabri said petty traders or farmers could also apply for special loans amounting to RM10,000 from Tekun to restart their businesses and that the loans would be given fast track approval.

"The Federal Agricultural Marketing Authority has already come to aid of farmers affected by floods by given them tents, umbrellas and tables so that they can be back in business," he said.

On the total losses suffered by farmers, live stock breeders and fishermen, he said it was roughly estimated at around RM150 million and that the actual figure would most likely be announced tomorrow.

Meanwhile, he urged farmers, livestock breeders and fishermen who suffered losses in the floods to quickly file reports with the relevant agencies under his ministry so that they could be compensated without delay.

The ministry was paying compensation of RM600 per head of cattle up to a maximum of 10 heads, he said, adding that it was the formula it had been using all this while for flood disasters.