KUALA LUMPUR – The Entrepreneur Development and Cooperatives Ministry is considering extending the moratorium to micro, small and medium enterprise entrepreneurs who have not yet recovered from the Covid-19 pandemic.
Its minister Tan Sri Noh Omar, however, said the extension of the moratorium would be granted on a case-by-case basis, taking into account the needs of the entrepreneurs involved.
He said court and bankruptcy cases against the entrepreneurs will also be postponed until the end of this year to give them space to restore business first.
“We understand there may still be people out there who need a moratorium. They can appeal to us,” he said after launching the Cashless Halal Food Festival at the Bank Rakyat Twin Towers here today.
Recently, the National Recovery Council chairman Tan Sri Muhyiddin Yasin was reported to have proposed the move considering that the sector which contributed RM518.1 billion or 37.4% to the gross domestic product last year had not fully recovered.
According to Muhyiddin, the sector is currently burdened with high debt and which was worsened by the increase in the overnight policy rate. – Bernama, September 19, 2022
