85) WORK WITH NGOS, GOVT TOLD - NEW STRAITS TIMES - 28/02/2023

KUALA LUMPUR: The government has been urged to work with non-governmental organisations (NGOs) that assist those facing the issue of bankruptcy to get accurate information and not to depend solely on the Insolvency Department.

The Muslim Consumers Association of Malaysia (PPIM) chief activist Datuk Nadzim Johan said this was necessary since not all those facing the issue of bankruptcy dealt with the department.

While thanking Prime Minister Datuk Seri Anwar Ibrahim for the release of those with debt less than RM50,000 and the proposed amendment of the Insolvency Act 1967, Nadzim said there were still many issues related to insolvency and bankruptcy that needed to be addressed.

"Among them include the steps to be taken by the users, should they be faced with a problem of finance involving bankruptcy and also those who were declared bankrupt with debt more than RM50,000 due to various reasons, including being fraud victims," he said in a statement.

Nadzim also questioned if the release was only given to those making monthly instalments to the department, as well as what would happen to those with debt value of less than RM50,000 and not being administered by the department.

"PPIM believes Malaysia still has a long way to go to reach the level of a developed country if the government failed to deal with the bankruptcy issue of its people, especially those who wanted to seek settlement but there is no cooperation from the creditors.

"Anwar during the tabling of the budget on Friday announced that bankrupts whose outstanding debts total under RM50,000 will be released from bankruptcy status immediately as of March 1, subject to conditions.

The premier said the government was also looking at giving bankrupts a second chance to rebuild their lives.

The government, he said, will amend the Insolvency Act 1967 to enable bankrupts to be freed from bankruptcy automatically soon.

It is estimated that some 130,000 people would be freed from bankruptcy status when the amendments are passed.

Article by: New Straits Times

WORK WITH NGOS, GOVT TOLD

https://www.nst.com.my/news/nation/2023/02/884366/work-ngos-govt-told