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Targeted moratorium for three months-Prime Minister

Prime Minister, Tan Sri Muhyiddin Yassin has announced that the government will run a targeted moratorium for three months only for those who lost their jobs this year and are yet to find a new job due to Covid-19 pandemic.

In a live broadcast on television, Muhyiddin said those affected can enjoy the targeted moratorium starting from October 2020 to 31 December 2020.

“After three months, the moratorium period can be extended by the banks depending on the individual’s situation and for those who are employed but had their salary cut, their monthly instalment will be reduced in line with their salary cut.

For instance, for housing and personal loans, the monthy instalment will be reduced at the same rate as the salary reduction.

This assistance will go on for at least six months and further extension can be considered depending on the current salary situation of the individual,” he explained.

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