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Working
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to weather economic storm
PEMUDAH TO PUSH FOR CLOSER TIES
BETWEEN PUBLIC, PRIVATE SECTORS
PUTRAJAYA: Pemudah, the
special task force to facilitate busi-
ness, will intensify collaboration
between the public and private
sectors to enable the country to
weather the economic storm.
Pemudah co-chairman Tan Sri
Mohd Sidek Hassan, in stating this,
said more still needed to be done
and in an even shorter period
because of the unfolding global
economic crisis.
According to him, the inclusive
partnership between the public
and private sectors will contribute
towards making Malaysia one of
the most competitive countries in
the world.
“The partnership also contrib-
uted to Malaysia being a good
place to do business and a great
place to live,” he said in the Pemu-
dah Annual Report 2008 which
was launched by Prime Minister
Datuk Seri Abdullah Ahmad
Badawi here yesterday.
Since its establishment on Feb
7, 2007, Pemudah has worked
closely with the public sector to
initiate improvements to public
service delivery and deal with
BERNAMAPIC
concerns having an impact on
doing business.
Improvements have been
made on many fronts, specifically
on enhancing transparency and
streamlining processes and pro-
cedures, including reducing the
time taken for clearance of exports
undertaken to facilitate trade, and
reducing the time taken for prop-
erty registration.
Improvements were also
made in tax administration and
facilitating e-payment, expedit-
ing incorporation of companies,
and the processes for employing
expatriates and skilled workers
with the setting up of a one-stop
centre.
Mohd Sidek said in 2008,
Pemudah further contributed ideas
and suggestions to refine policies
that impact business, specifically
those related to distributive trade
guidelines, fair trade policy and
liberalisation of the international
logistics sector.
Abdullah, when releasing the
report, said the country was ready
to face the global slowdown and
will strive to avert protracted
unemployment.
“Our experiences in past crises
have put us in good stead and we
are prepared to act to minimise
the impact of the economic down-
turn,” he said.
“It may not be possible to
avoid hardships or difficulties
entirely but we will strive to avert
protracted unemployment and
suffering.”
He said the second stimulus
package to be announced on March
10 would be comprehensive and
include feedback from the busi-
ness community with major steps
to facilitate commerce as well as
ensure jobs for the people.
In the face of these global eco-
nomic challenges, he said it was
important that Malaysia continues
its drive to remain competitive.
To this end, Pemudah would
remain vital and relevant to the
business community and the
people, he said.
“During these trying times,
we must continue to forge strong
links between the private and
public sectors.
“Neither the government nor
the business community will be
able to achieve a measure of
success without the support and
cooperation of others,” he said.
– Bernama
| THURSDAY FEBRUARY 26 2009
Banks to reduce monthly
loan repayments
KUALA LUMPUR: All com-
mercial banks will take
immediate steps to reduce
the monthly loan repayment
ABM said.
"Since the first option will
be translated into immediate,
real benefit and savings for
instalments for facilities withbank customers with facilities
interest rates pegged to the pegged to the BLR, a decision
base lending rate (BLR). was made among the banks for
This is to help borrowers an adjustment of the monthly
in the current challenging loan repayment instalments
environment, the Asso- downwards for all such facili-
ciation of Banks in Malaysia ties across the board," the as-
(ABM) said in a statement sociation said.
yesterday. "Changes in the system
The move came in the will be necessary and banks
wake of the announcement will endeavour to implement
by Bank Negara Malaysia on the downward revision of the
Tuesday that its benchmark amount of the monthly loan
Abdullah overnight policy rate (OPR) repayment instalments as fast
showing the will be reduced by another 50 as they can," it said.
contents of basis point to 2% from 2.5%. Depending on the customer
the Pemudah The new BLR will be pub- base and type of facilities, it is
Annual
Report 2008.
lished by the banks individually
in the days ahead, like in the
anticipated that the reduction
will be completed only around
With him is cases of the previous rounds of the end of the first quarter of
Pemudah OPR cuts in November 2008 and 2009, ABM said.
chairman Tan January 2009, ABM said. Banks will only be officially
Sri Yong Poh With the lowering of the BLR, notifying their customers on
Kong (right) banks have the option of either the quantum of reduction of the
and Sidek. retaining the tenure of the loan monthly low repayment instal-
and reducing the monthly loan ments and the effective date
repayment instalments or short- directly, it said.
ening the tenure of the loan According to ABM, the
while maintaining the amount lower monthly loan repayment
of their customers' monthly instalments will allow for more
loan repayment instalment, disposable income to be in the
hands of the public.
The as-
sociation also
Perak exco vacation allowance reaffirmed its
withdrawn member banks'
TELUK INTAN: The annual vacation allowance of RM20,000 for commitment to
each of the six Perak state executive council (exco) members will continue to be
be withdrawn and utilised to overcome the people’s problems, reasonable as
well as responsive
said Mentri Besar Datuk Dr Zambry Abdul Kadir.
to the public's
He said it would not be appropriate for the allocation of
needs.
RM120,000 to be used as vacation allowance in the wake of the Bank custom-
uncertain economic situation currently. ers who prefer to
“The money will instead be utilised for the people who are retain the amount
in need,” he told reporters after chairing an exco meeting at the of their monthly
Hilir Perak District Office yesterday. loan repayment
Zambry also said that the state government had decided to instalments can
hold the exco meeting in each of the districts in the state on contact their
rotation to enable all the exco members to better appreciate the respective banks
problems of the people at the grassroots level. – Bernama immediately, it
said. – Bernama