“Opportunistic quarters” furthering a populist agenda are behind calls for a blanket loan moratorium, says finance minister Tengku Zafrul Abdul Aziz.
The government may also need to significantly compensate banks for a measure that was not even necessary in the first place, he said. He described a blanked moratorium as an “unnecessary self-destructive, over-specified solution” that he likened to “cutting off our nose to spite our face”.On his being quoted in the media recently as saying that the government cannot compel banks to give a blanket moratorium, Tengku Zafrul said this was subsequently taken out of context by “opportunistic quarters promoting their populist agenda.”
As the rule of law is necessary for a stable market, the government’s indiscriminate invoking of emergency powers might result in parties being forced to break or amend contracts, which would in turn seriously impact future business and investments, Tengku Zafrul said. During that period, the government dished out various measures, including a six-month automatic blanket moratorium that Bank Negara Malaysia and the banking sector agreed to provide for all borrowers.
Stupid goverment what else can they do?
He will never understand the plight of normal people because food on his table miraculously appear.
I tot he is people minister... but then just ordinary banker
Zafrul -what happened to your forecast of growth for 2021...usually one must be humble and give a realistic number and not to show off
Yes. Just give to those who in need.
tzafrul_aziz tidak sensetif atas masalah pokok
aloo just grant the auto mora, bukan semua malaysians akan ambil pun… at least yang memerlukan boleh bernafas sikit. Hidup ni permudahkan la.tak semua org kaya. angkuh kamu ni tzafrul_aziz .compassion ke laut dia ni.
long because u guys wanna hold onto power kan?
You didn't know that ? And you are Finance Minister ?
For hungry people, a bowl of rice NOW is more important than the promised sack of rice a month later. However, you will NEVER UNDERSTAND cause you never have to live in poverty. Try live a month with ONLY RM10k, which to commoners is a luxury. Maybe you'll understand better.
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Source: malaysiakini - 🏆 20. / 51 Read more »