Finance Minister denies external consultants hired to implement economic stimulus package

Zafrul said Bank Negara Malaysia (BNM) has issued the latest Frequently Asked Questions (FAQ) regarding the loan moratorium to clarify public confusion on the matter. Source (pic): TTF Files

منتري كواڠن نافي ڤرونديڠ لوار دلانتيق اونتوق لقسان ڤاكيج راڠسڠن ايكونومي

Finance Minister Tengku Zafrul Abdul Aziz has clarified that no external consultants have been roped in to assist the Ministry in implementing the Government’s economic stimulus package.

According to him, the Economic Stimulus Implementation & Coordination Unit Between National Agencies (LAKSANA), which was established in March this year and placed under the Finance Ministry was not staffed with external consultants.

Tengku Zafrul said this after he was asked to clarify a news report claiming that some of the largest consultancies in the country had been roped in to assist the Finance Ministry to implement the Government’s economic stimulus package.

Quoting sources, the article reported the consultants included some from Ernst & Young (EY) and CIMB Group Holdings Bhd, primarily from EY with a few from CIMB and the customary representative from the Finance Ministry.


BANGI: Finance Minister Tengku Zafrul Abdul Aziz has clarified that no external consultants have been roped in to assist the Ministry in implementing the Government’s economic stimulus package.

According to him, the Economic Stimulus Implementation & Coordination Unit Between National Agencies (LAKSANA), which was established in March this year and placed under the Finance Ministry was not staffed with external consultants.




“I want to make it clear that there are no consultants paid by the Ministry of Finance and there are no consultants (external). What we have are secondments from Retirement Fund Inc (KWAP), Employees Provident Fund (KWSP), Bank Negara Malaysia, Securities Commission and officers from other agencies such as Exim Bank.

“And I do not want to take credit away from the civil servants because the Prihatin Package’s team are all from the Ministry of Finance. So, I do not know where this information came from,” he told reporters after a working visit to the Inland Revenue Board’s Hasil Care Line and Hasil Recovery Call Centre here today.

Also present was newly appointed Treasury secretary-general Datuk Asri [email protected]

Tengku Zafrul said this after he was asked to clarify a news report claiming that some of the largest consultancies in the country had been roped in to assist the Finance Ministry to implement the Government’s economic stimulus package.

Quoting sources, the article reported the consultants included some from Ernst & Young (EY) and CIMB Group Holdings Bhd, primarily from EY with a few from CIMB and the customary representative from the Finance Ministry.

Meanwhile, Tengku Zafrul said Bank Negara Malaysia (BNM) has issued the latest Frequently Asked Questions (FAQ) regarding the loan moratorium to clarify public confusion on the matter.

“What is clear now is that interest is still accrued but not compounded.

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“More than a month ago when the loan moratorium was first announced by Bank Negara, there was some confusion, I think because communication was unclear but thankfully Bank Negara this morning has issued their FAQ to clear up this confusion. I hope we do not speculate on this further,” he added.

Tengku Zafrul said all banks have to comply with the Hire-Purchase Act 1967 and Shariah guidelines whereby they have to get consent from the customers for loan moratorium.

“That was a procedural difference, whereby now all banks have to ask for consent. All customers are still eligible automatically, but permission must be given by the customers,” he added.

Source:

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