Ong Kian Ming, who was a deputy international trade and industry minister, said the concerns raised in late 2018 revolved around the proposed ICLR’s impact on borrowers.“The proposal to significantly reduce the amount of loan repayment for those earning below RM2,000 per month also included increasing the monthly repayments of those earning higher salaries,” he said in a statement today.
“New borrowers would know about the ICLR right from the start and not be shocked by higher repayment rates if they were to earn a higher salary soon after graduating,” he said, adding that they could then manage their finances effectively. However, he disagreed with Wan Saiful’s suggestion to place PTPTN under the purview of the finance ministry to operate more like a financial institution.
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