News | PM: 10,000 individuals went bankrupt during MCO period, 1,200 businesses closed down

KUALA LUMPUR: Some 10,000 individuals have been declared bankrupt throughout the movement control order (MCO) period between March last year and July, says Datuk Seri Ismail Sabri Yaakob.

In a parliamentary written reply, the Prime Minister also revealed that a total of 1,246 businesses closed down during the same period.

“The total number of bankruptcy cases based on the number of individuals is 10,317,” he said in reply to Lim Lip Eng (PH-Kepong), who asked for the breakdown by states of the numbers of businesses that had closed down during the movement control order period.

Selangor recorded the highest number of bankruptcy cases, 2,555, followed by the Federal Territory (1,288), Johor Baru (792) and Perak (628).

Ismail noted that based on input from the Finance Ministry, the government does not have specific assistance for owners who had closed their businesses.

“Instead, the government provides assistance and incentives to support continuity of their businesses,” he said.

He added that the government had also announced various programmes and initiatives listed under various economic stimulus packages and financial assistance with the focus on supporting businesses and protecting the rakyat.

Among them is the Wage Subsidy Scheme and the Bantuan Prihatin Rakyat cash assistance. – THE STAR

by Rahimy Rahimand Tarrence Tan and Martin Carvalho

credit photo: TheStar

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