KUALA LUMPUR: The Congress of Unions of Employees in the Public and Civil Services (CUEPACS) has described the extension of the moratorium as clearly showing the government’s commitment to help the people, especially those who are currently in a difficult situation.
Its President, Adnan Mat, said CUEPACS welcomed the government’s move to extend the moratorium and targeted bank assistance aimed specifically at those who really need it and were still affected by the COVID-19 pandemic.
“CUEPACS also praises the commitment of banks and financial institutions in the country who are willing to work with the government in wading through these difficult times.
“At the same time, we hope that the process of providing a moratorium and targeted assistance will not be complicated by bureaucratic red tape that will inconvenience the people,” he said in a statement here yesterday.
He said Cuepacs suggested that Bank Negara set a standard that could be applied by all banks and financial institutions in the country to ensure that no conditions or bureaucratic red tape were imposed by financial institutions without the knowledge of the government, that would make it difficult for the people.
He said the giving of moratorium and targeted assistance should take into account the overall income of households and not just individuals who had loans.
“This is because those who have lost their jobs or whose income are affected do not necessarily have loans as the loans could have been made by their spouses but the repayments were jointly shouldered,” he said. – BERNAMA