Govt planning car loan facilities for B40, says Salahuddin

KUALA LUMPUR: The Ministry of Domestic Trade and Cost of Living plans to introduce loan facilities to finance the purchase of vehicles and insurance to help the bottom 40% household income group () under the initiative.

Its Minister Datuk Seri said he would be holding several engagement sessions with banking institutions and insurance companies to fine-tune the initiative.

“God willing, we will come up with a Rahmah insurance that can be offered to people who cannot afford a new car, but can only buy a second-hand car, but there is a protection scheme for their car,” he said after officiating at a campaign at Mydin Subang Jaya here on Wednesday (March 15).

Earlier, Salahuddin in his speech, said he had held discussions with International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz on his intention to meet up with bankers.

Salahuddin said Zafrul, who was also formerly the finance minister, is supportive of the move, and is willing to cooperate to make it a success.

Meanwhile, Salahuddin expressed his appreciation to for its involvement in the Payung Rahmah initiative, which started with Menu Rahmah, and now the upcoming Jualan Rahmah programme for Ramadan and Hari Raya celebrations.

Source : The Edge Markets

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