Govt to discuss proposal on moratorium for SMEs

The government will discuss a proposal to offer a moratorium to small and medium enterprises (SMEs) with the relevant ministries soon.

Speaking in Kuala Lumpur, Prime Minister Ismail Sabri Yaakob said the discussions would involve the finance ministry and the entrepreneur development and cooperatives ministry.

He said this when asked to comment on the suggestion by National Recovery Council chairman Muhyiddin Yasin for banking institutions to consider offering moratoriums to SMEs, especially those still struggling to recover post Covid-19.

Muhyiddin said some of them were also struggling with the increase in overnight policy rate for the third time this year, adding that SMEs contribute to 90% of the country's economy.