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PUTRAJAYA, March 30 — The government has agreed to extend the moratorium or restructuring of loan payments, from April to June this year, for bus operators bound by the hire purchase agreement for vehicles.
The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP), in a statement today, said that the extension was intended to provide temporary relief from agreement obligations under the Hire Purchase Act 1967 for a specified period, for the survival of bus operators affected by the Covid-19 pandemic.
Therefore, KPDNHEP recommends those involved and discuss with financial institutions or credit companies involved pertaining to the agreements, to prevent vehicles from being repossessed when there was a lapse in payments.
In addition, bus operators are also advised to refer to the Covid-19 Mediation Centre (PMC-19) in the event of a dispute related to the inability to perform any contractual obligations.
“PMC-19 can help B40 and M40 individuals, as well as small and medium enterprises (SMEs) in the micro and small categories, by providing subsidies for the cost of the mediation process,” it said.
For the record, previously the government had extended the moratorium period for bus operators from January to March. — Bernama