MCO: FOMCA CALLS FOR LOAN MORATORIUM EXTENSION, MINIMUM WAGE SUPPORT

15 JAN 2021

KUALA LUMPUR: The Federation of Malaysian Consumers Association (FOMCA) has called on Bank Negara Malaysia (BNM) to extend the loan moratorium until at least August for all affected workers in the wake of the second Movement Control Order (MCO).

In a statement today, its president Datuk Dr Marimuthu Nadason said BNM's silence and indifference to the plight of the people is deafening.

"There should be an immediate moratorium on all loans to banks to assist those impacted by the MCO,” he said.

He also suggested that insurance companies should immediately be banned from increasing premiums while the pandemic is still affecting the economy.

Apart from that, he said the government should help affected workers with financial support. "FOMCA urges that all affected businesses and workers be supported at least with a minimum wage to help them through the crises. Abandoning the workers without any support is just plain cruel," he said. -Bernama