A TOTAL of 98% applications for moratorium extension and targeted bank assistance have been approved, says Prime Minister Tan Sri Muhyiddin Yassin.

“In July, I announced a moratorium extension and targeted bank assistance.

“As of September 11, banking institutions have had discussions with over 1.4 million borrowers, and over 380,000 borrowers have confirmed that they really need this assistance,” he said when delivering the Kita Prihatin special address today.

Muhyiddin said the government will continue to monitor the latest developments and ensure banking institutions play a role in helping the people and businesses in need of assistance to face this challenging period.

He urged members of the public who have not submitted their applications to immediately contact their respective banking institution.

To ease the burden on businesses and households affected by the spread of Covid-19, the government announced on March 25 a deferment of loan repayments, including for mortgage loans and hire purchases, for a six-month period.

This automatic moratorium programme is due to expire at the end of September.

The government today announced several initiatives and additional assistance under the Kerangka Inisiatif Tambahan Prihatin (Kita Prihatin) framework with an allocation of RM10 billion along with efforts to revive the economy in order to safeguard the people’s well-being. – Bernama, September 23, 2020.