Tuesday, December 18, 2012

No Plans For Revolving Fund To Assist Blacklisted Entrepreneurs

KUALA LUMPUR, Dec 17 (Bernama) -- The government does not intend to create a revolving fund to assist youths and entrepreneurs who have been blacklisted, the Dewan Negara sitting was told today.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsgeneral.php?id=915921
Published: December 18, 2012

Source from (The Sun Daily): http://www.thesundaily.my/news/566877
Published: December 18, 2012

Deputy Finance Minister Datuk Donald Lim said the government, through Bank Negara, had implemented several measures and initial procedures to assist youths and entrepreneurs who were facing the problem.

He said individuals having difficulty in repaying their loans due to cash flow problems were advised to discuss with the financial institutions concerned to reschedule their repayment.

"The Credit Counselling and Debt Management Agency (AKPK) was set up by Bank Negara in 2006 to provide counselling service and aid to consumers in rescheduling their personal loans, housing loans, hire purchase and credit cards.

"In addition, the Small Debt Resolution Scheme (SDRS) was set up to assist small and medium industries (SMIs) which are saddled with non-performing loans (NPLs) with financial institutions," he said when replying to a question from Senator S.Bagiam.

-- BERNAMA

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