Govt to discuss proposal to offer moratorium to SMEs soon

KUALA LUMPUR: The government will discuss the proposal to offer a moratorium to small and medium enterprises (SMEs) with the relevant ministries soon.

Prime Minister Datuk Seri Ismail Sabri Yaakob said the discussion will involve the Finance Ministry and the Ministry of Entrepreneur Development and Cooperatives.

He said this after launching the National Biotechnology Policy 2.0 at the Kuala Lumpur World Trade Centre today.

Ismail Sabri was asked to comment on the suggestion made by the National Recovery Council chairman Tan Sri Muhyiddin Yasin for banking institutions to consider offering moratoriums to SMEs, especially those still struggling to recover post-COVID-19.

Muhyiddin said some of them are still unable to recover, coupled with the increase of the overnight policy rate (OPR) three times this year, which is seen to not only affect the momentum of the country's economic recovery but also the performance of SMEs, which now contribute to 90 per cent of the country's economic activity.

-- BERNAMA