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M’sians Left Unemployed & Suffered Pay Cuts Due To Covid-19 To Get Longer Moratorium Period

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3 months ago

July 29, 2020

Esther Liew

Source: AFP Photos

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Prime Minister, Tan Sri Muhyiddin, addressed the nation today (28th July) in a live press conference to announce important details concerning Moratorium and Targeted Bank Assistance allocated towards those in need during this precarious time.

“Firstly, for individuals who lost their jobs in 2020 and have yet to find a new job, you will enjoy an extended moratorium period of 3 months. After 3 months, the moratorium may be extended by banks according to individual circumstances.”

The PM also added that individuals who suffered salary cuts due to the pandemic will have their monthly installment payments reduced according to the rate in which their salaries were deducted. This will also depend on the type of loan that these individuals applied for. “This assistance is valid for a period of at least six months but additional extensions are subject to the current salary of the individual.”

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Also read: LIVE NOW: PM’s Announcement On Moratorium & Targeted Bank Assistance