The Malaysian government would have been able to deliver its promises regarding the repayment of the Higher Education Fund (PTPTN) loans if the fugitive businessperson Low Taek Jho had not made away with the country’s billions, the Finance Minister Lim Guan Eng claimed.
He said he accepts criticism that the government has underdelivered on Pakatan Harapan’s promise to allow borrowers to only start loan repayment once they start earning an income of at least RM4,000 per month.
“I accept these criticisms because, really, we wanted to implement it but when you look at our fiscal position, what can we do?
“If Jho Low had not taken away RM50 billion, definitely it could have been done,” he told reporters today after launching the FundMyHome online platform in Semenyih today.
Pakatan Harapan had previously promised that it would allow PTPTN borrowers to defer their payments until they earn at least RM4,000 per month.
In his budget speech on Friday, however, Lim announced that those who were earning above RM1,000 per month would have to pay. The repayment schedule ranges from two to 15 percent of the borrower’s monthly income depending on his income level.
He also announced several other PTPTN-related measures, including loan discounts for B40 income earners who obtained first-class honours in their studies, and writing off debts for those who are above 60 years old and earning less than RM4,000 per month.
Lim also announced in his budget speech that the minimum wage would be raised to RM1,100 per month beginning Jan 1 next year.
“Two to 15 percent. We give them the option. We also understand. If you cannot pay two percent, what can we do?
“We want to provide alternatives. At the same time, we know it is difficult because of that financial, fiscal position.
“As I had said, if Jho Low had not taken away that RM50 billion, then definitely, we could have implemented our promises,” he said. - Mkini
Source | https://malaysiansmustknowthetruth.blogspot.com/2018/11/finance-minister-ptptn-promise-would.html
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