MEDAC considers coordinating moratorium expiration period

PUTRAJAYA: The Entrepreneur Development and Cooperatives Ministry (MEDAC) is considering coordinating the expiration of the moratorium for all funding agencies under the ministry.

Its Minister Tan Sri Noh Omar said currently the moratorium expiration period was different for each financing agency subject to their respective terms and conditions.

"We do not want the Bank Rakyat moratorium to end this month, that of Tekun Nasional another month. We want them to be streamlined," said Noh, who will discuss the matter with MEDAC secretary-general Datuk Suriani Ahmad.

Noh said this at a press conference after handing over the letter of acceptance for the SME Relief Programme (SRP) National People's Well-Being and Economic Recovery Package (PEMULIH) Phase 2 SME Bank here today.

Asked about the extension of the moratorium currently granted until the end of this year, Noh said MEDAC was also considering extending it further.

Noh asked SME Bank to facilitate the appeal of entrepreneurs' repayment process to enable them to revive their affected businesses.

"Help them, for any legal action will be a burden to these entrepreneurs. It is hoped that SME Bank can give consideration. We have to give them space to breathe again," he said.

Earlier in his speech at the event, Noh said MEDAC had offered SRP PEMULIH targeted assistance to 4,142 entrepreneurs with funding of RM5.8 billion from July to December 2021.

Today, he said 10 entrepreneurs from the hotel, public and commercial transport sectors, as well as amusement park operators, received letters of participation from SRP PEMULIH Phase 2 involving an allocation of RM349.6 million.

-- BERNAMA