More than 10,000 declared bankrupt during pandemic, says PM

More than 10,000 declared bankrupt during pandemic, says PM

Ismail Sabri Yaakob also says that 1,246 businesses were forced to close shop from March 2020 to July 2021.

Ismail Sabri Yaakob says the government provides aid and incentives to support business continuity, not for those who closed shop.
PETALING JAYA:
A total of 10,317 people were declared bankrupt from March 2020 to July 2021, said Prime Minister Ismail Sabri Yaakob.

In a parliamentary reply today, he also said that 1,246 businesses were forced to close shop during the same period.

Ismail was replying to questions from DAP’s Kepong MP Lim Lip Eng on a breakdown by state for the number of companies that had closed down during 2020 and 2021, as well as a similar breakdown for the number of workers who were dismissed from their jobs during the same period.

Lim also wanted to know what measures the government had taken to help business owners and workers who had suffered because of the closures due to the pandemic.

Ismail said that based on input from the finance ministry, the government does not have aid packages which specifically cater to business owners who have had to close their businesses.

“Instead, it provides aid and incentives to support business continuity,” he said.

“Various programmes and initiatives have been carried out through economic stimulus packages and cash aid aimed at supporting businesses and protecting the rakyat.”

He said that the assistance for business owners include the Prihatin special grant (GKP), the wage subsidy programme, microcredit schemes and loan moratoriums.

The rakyat are also entitled to loan moratoriums and other measures such as schemes to withdraw from their Employees Provident Fund (EPF) accounts and Bantuan Prihatin Nasional (BPN) and Bantuan Prihatin Rakyat (BPR) cash aid.

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