77,994 debtors avoid bankruptcy

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Article from The Sun Daily dated 11 October 2012

 

KUALA LUMPUR (Oct 11, 2012): A total of 77,994 people who obtained assistance from the Credit Counselling and Debt Management Agency (AKPK) under the debt management programme were able to reschedule their loans and avoid being declared bankrupt, Deputy Finance Minister Datuk Dr Awang Adek Hussin said.

 

“A total of 2,316 fully paid up their debts totalling RM72.5 million under the programme,” he said in response to a question from Datuk Md Sirat Abu (BN-Bukit Katil) in the Dewan Rakyat today.

 

Up to 68% of the individuals who obtained assistance from the agency were those whose monthly income was less than RM3,000, Awang Adek said, adding that a total of 196,014 benefited from the service up to August this year.

 

The profile of the individuals showed that 57% of them were under 40 years of age, 67% were male, 32% were from the private sector, 48% were self-employed and 8% were civil servants, Bernama reports

 

Meanwhile, at Parliamant lobby, Teo Nie Ching (DAP-Serdang) lamented that the government has gone against the recommendations of its Performance Management and Delivery Unit (Pemandu) by delaying the tabling of the Auditor-General’s Report 2011, and by doing so have also denied Members of Parliament the opportunity to raise questions on the management of public funds.

 

Teo said Minister in the Prime Minister’s Department Datuk Seri Idris Jala, as Pemandu head, had during a Government Transformation Plan 2.0 open house on July 24 proposed the report to be tabled in parliament thrice a year, to enable efficient processing and handling of concerns raised in it.

 

“Tabling the report together with Budget 2013 would allow lawmakers to identify spendings with positive results, and other areas that require improvement,” Teo said.

 

“A budget, no matter how beautifully drafted, if not delivered as planned, is no different from a stack of papers fit for the garbage bin,” he added

 

Teo who is also DAP’s assistant national publicity secretary pointed out that yesterday was the last day for MPs to debate on Budget 2013 at the policy stage.

 

“From Monday onwards, the ministers will reply to the matters raised.

 

“MPs are not supposed to raise any new issues (after this) but can only seek clarifications, after which we will enter into the committee stage where debates are limited to specific items in the budget,” she said.

 

AKPK, set up by Bank Negara and having started operations in 2006, provides services such as financial management, rescheduling of loans, credit counselling and financial education for loan borrowers and guarantors who have difficulty paying back loans.