Loan moratorium of six months under the Pemulih aid package – automatic approval

By Darren Khew
30 June 21, 6:19 pm
Loan moratorium of six months under the Pemulih aid package – automatic approval

The six-month loan moratorium for individual debtors has been reinstated by the government. The move was made as part of a new Pemulih aid package designed to help the rakyat deal with the lockdowns. The six-month loan moratorium was first provided in March 2020, allowing debtors to postpone loan repayments with no interest accrued being charged to the principal. The duration of the hire purchase was merely extended by six months, with no impact on credit ratings. The government has reduced all restrictions and conditions as part of the Pemulih aid package, with the loan moratorium accessible to all income categories and micro-entrepreneurs.

The government would also freeze the prices of RON 95 gasoline, diesel, and liquefied petroleum gas (LPG) for the remainder of the year as part of the aid package, saving nearly RM6 billion in subsidy costs. Since February 2021, the RON 95 petrol and diesel prices have been limited at RM2.05 and RM2.15 per litre, respectively, while the premium grades RON 97 and RON 100 follow the world crude oil price trend, which has been continuously rising.

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