PAKATAN Harapan has taken Prime Minister Ismail Sabri Yaakob to task for taking sole credit over a loan interest waiver for B50 households, which the pact had included as one of its demands in the memorandum of understanding (MOU) with Putrajaya. 

In a statement, its presidential council said Ismail had failed to recognise the policy as a PH initiative. 

“We regret that the prime minister did not recognise this policy is one of the demands contained in the MOU signed by himself with the main leadership of PH on September 13. 

“In fact, this exception is described as the government’s idea, even though it is the consistent stand of PH, which was implemented in the spirit of fulfilling the matters contained in the MOU. 

“Without recognising the role of this MOU, it could affect our confidence in the government’s sincerity to adhere to the spirit of this MOU, and also contradict the Malaysian Family concept based on facts and data so that all plans can be worked together with the unity of the people,” the council said in a statement today.

The statement was jointly signed by PKR president Anwar Ibrahim, DAP secretary-general Lim Guan Eng, Amanah president Mohamad Sabu, and Upko president Wilfred Madius Tangau. 

Nonetheless, PH welcomed the three-month interest exemption on bank loans for B50 groups, calling it a win for the people.  

Yesterday, Ismail said the Financial Management and Resilience Programme (Urus) for affected borrowers in the B50 group will be set up by the banking sector soon.

He said facilities to be provided include interest exemption for three months and smaller instalments for up to 24 months as well as a lower interest rate.

Urus is a comprehensive financial aid initiative that will be offered to affected borrowers from the B50 group – those with a gross household income of less than RM5,880 a month. 

The council clarified that the government was initially not receptive to PH’s proposal to provide interest payment exemption to borrowers from this group. 

They said that key leaders of PH did not only have a series of meetings with Finance Minister Tengku Zafrul Tengku Abdul Aziz on the matter but also with chief executive officers of commercial banks.

“Although there were initially concerns on the part of the banks, however, after the series of meetings that took place and the views of the PH leadership were clearly communicated, the prime minister agreed with our stand and finally this policy was implemented.

“This is a victory for the people,” the council said. 

Despite being shunned, PH said it will continue to play a balancing and decisive role in bringing the voices of the people inside and outside Parliament in order to address the Covid-19 pandemic, overcome the economic crisis and save lives and livelihoods. – October 14, 2021.