Govt willing to forget NPLs for PTPTN to ensure educational opportunity for all – Zahid
BAGAN DATUK: The government is willing to put aside nonperforming loans (NPLs) from the National Higher Education Fund Corporation ( PTPTN) to ensure that every strata of society had the opportunity to study up to the highest level.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said that from the commercial aspect, the PTPTN was not a viable financial institution because of the high NPL.
“As a former bank executive and chairman, the PTPTN certainly is not viable from the commercial aspect because of the very high NPL, much higher than those who are paying back.
“The government is willing to forget the NPL for the sake of responsibility to see that the people have educational opportunity. The government’s commitment supersedes commercial value, supersedes banking values set by financial institution standards,” he said.
Ahmad Zahid said this when officiating the launching of the Matching Grant and ‘ Kempen Jom Menabung Tabung bersama Tabung Pendidikan’ here held in conjunction with the Perak Menteri Besar Retreat Programme.
Commenting further, Ahmad Zahid, who is also the member of parliament for Bagan Datuk, said since the formation of the PTPTN in 1997, access to higher education among the people in the country had risen.
On the average, he said, 200,000 students each year had the opportunity to study at the public or private Institutions of Higher learning and as at Dec 31 last year, a total of 2.6 million loan applications had been approved involving a total amount of RM48.5 billion.
“This is a huge amount, no country in the world is as committed as Malaysia in giving out educational loans to students,” he said.
He called on the borrowers to repay the study loans upon completion of their studies so that the facility could be enjoyed by more students.
Ahmad Zahid also praised PTPTN which was proactive in transforming the mind of the people to make educational savings through SSPN-i and SSPN-i Plus. — Bernama