Published: Tuesday March 12, 2013 MYT 1:26:00 PM
Updated: Tuesday March 12, 2013 MYT 2:09:20 PM
Skills Development Fund borrowers to get discounts on repayments until March 2014
By YVONNE LIM
KUALA LUMPUR: Those who repay their loans under the Skills Development Fund Corporation (PTPK) in a lump sum any time between March 1, 2013 and March 1, 2014 will enjoy a 20% discount on their total repayment.
During this period, those who repay their loans through monthly installments will also enjoy a 10% discount.
Human Resources Minister Datuk Seri Dr S. Subramaniam said those who have been paying consistently every month can also apply for the 10% discount.
"We know it can be quite burdensome for some borrowers to repay the loan.
"Therefore, we hope that these incentives will help somewhat and encourage them to repay their loans as soon as possible," he said.
He added that the current unpaid outstanding balance from the fund was more than RM500mil.
Dr Subramaniam was talking to reporters after witnessing the signing of a memorandum of understanding (MoU) between the Skills Development Department (JPK) and the Malaysian-German Chambers of Commerce, as well as the German-Malaysian Institute (GMI) here Tuesday.
He said the MoU was to seal the implementation of international skill-training programmes into the skill industries in Malaysia, as well as widen international recognition and accreditation of graduates from local training courses.
"We hope also that with this, there will be greater acceptance of our skills-training programmes among the industries in Malaysia.
"This will propel us towards becoming a highly-skilled nation," he said.
He added that there were currently about 100,000 trainees in more than 29 industries at any given time in the country.