PTPK loan deferment extended three months from Oct 1

The deferment of the Skills Development and Fund Corporation (PTPK) loan repayment for school leavers and employees will be extended for another three months, beginning Oct 1.

Human Resources Minister Datuk Seri M. Saravanan said that the total repayment collection for the three months extension is estimated at RM70 million and would benefit 178,906 borrowers.

“The deferment is automatic without the need to make any application such as the previous implementation,” he said in a statement, here, today.

He said that the three-month extension was in line with Prime Minister Tan Sri Muhyiddin Yassin's announcement on July 29, regarding extension of a loan repayment moratorium and targeted bank assistance, to protect and reduce the burden of those affected by the COVID-19 pandemic.

In March, the Prime Minister announced the deferment of the PTPK loan repayments for six months starting from April 1, which would benefit 174,500 borrowers involving collections amounting to RM149. 2 million, under the Prihatin Rakyat Economic Stimulus Package (PRIHATIN).

According to Saravanan the estimated collections for the deferment of PTPK loan repayments until Dec 31 is RM220 million and involves 178,906 borrowers.

-- BERNAMA