PTPTN defers repayment by three months amid Covid-19

CORONAVIRUS | PTPTN will defer all loan repayments by three months in light of the Covid-19 outbreak and the current movement control order that has halted economic activities in the country.

The announcement was made by Higher Education Minister Noraini Ahmad (above).

"Considering the impact of Covid-19 on the national economy, resulting in loss or reduction in income for PTPTN borrowers, the government has agreed for PTPTN to defer repayments for all borrowers.

"The deferment for three months is effective immediately until June 30.

"In line with the deferment, all PTPTN borrowers will also be exempted from enforcement and legal action," she said in a statement.

Meanwhile, PTPTN chairperson Wan Saiful Wan Jan thanked Noraini for agreeing to the proposal.

"I am delighted that it can be implemented immediately, just days after the proposal was made to her," he said in a separate statement.