An employee serves a customer at the National Higher Education Fund Corporation in Kuala Lumpur July 16, 2018. — Picture by Firdaus Latif
“It is simply not financially viable to fully execute [a total write-off]; doing so will cost the government tens of billions over the next five years,” the unnamed official was quoted as saying.The source said the proposed method was to tap into the debtors’ EPF contributions and has a two-tier system of repayments depending on monthly salary.
The proposed repayment method also provides the choice of repaying the loans through a combination of EPF deductions and cash.
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