End of loan moratorium may halt economic recovery, say workers’ groups


Sheridan Mahavera

Low- and middle-income workers, who make up more than 80% of the workforce, will experience more retrenchments at the end of the moratorium. – The Malaysian Insight file pic, July 21, 2020.

THE end of the year will see more lay-offs and bankruptcies if banks do not extend their loan moratorium until December, said trade associations and private-sector unions.

Low- and middle-income workers, who make up more than 80% of the workforce, will experience more retrenchments, said the Malaysian Trades Union Congress (MTUC).
 
The MTUC, Malaysia’s largest private-sector union body, said this will then be followed by workers seeing their houses and cars being repossessed by banks as they cannot repay their loans.


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Comments


  • Why do I get the feeling that the finance minister cares more for the banks than the welfare of our workers?

    Posted 2 years ago by Simple Sulaiman