By Ashwin Kumar
SHAH ALAM, March 23 — The Federal Government has announced a six-month repayment extension for the National Higher Education Fund (PTPTN) loan to help the borrowers cope with the impact of Covid-19 on the economy.
Prime Minister Tan Sri Muhyiddin Yassin, in announcing the government's agreement to extend the repayment period from three months to six months, said the extension is effective today until September 30.
"The PTPTN repayment extension would benefit 1.5 million borrowers with a total collection of RM750 million over the six-month deferment period," he said in a special press conference at the Prime Minister’s Office in Putrajaya today.
On March 18, the government had announced a three-month deferment of PTPTN loan repayments until June 30.
Muhyiddin said the Federal government's initiatives announced today is part of the existing economic stimulus package and the people's aid (Bantuan Rakyat), and that a more comprehensive package would be announced on March 30.
The announcement was made following the Economic Action Council meeting held earlier, chaired by Muhyiddin.
The initiatives taken by the council are to cushion the economic impact of the Covid-19 outbreak on the people, as some had lost their source of income following the implementation of the movement control order from March 18 to 31.
