Thursday, July 29, 2021

business

FPO urges small lenders to help ease borrowers’ burden


The Finance Ministry’s Fiscal Policy Office (FPO) called on pico-finance operators to give borrowers a break, especially since everyone is struggling due to the ongoing third wave of Covid-19.

Kulaya Tantitemit, FPO’s director general and Foreign Ministry’s spokesperson, said this latest wave has hit the economy very hard, affecting jobs and people’s daily lives.

Hence, she said, FPO is urging pico lenders to help ease borrowers’ burden by:

• Cutting down on repayment amount or extending the repayment period

• Turning short-term debts into long-term ones

• Granting debt moratorium or reducing the interest rate

She added that pico lenders have until June 30 to submit their financial statement for the 2019 fiscal year.

“FPO hopes this will help borrowers overcome the Covid-19 crisis,” she said.

Published : June 03, 2021

By : The Nation