Over 142,000 individuals released from bankruptcy under Second Chance Policy, says PM
The Insolvency Department has released 142,510 individuals from bankruptcy under the Second Chance Policy introduced in October last year, says Datuk Seri Anwar Ibrahim.
Speaking at the 100th anniversary celebration of the Insolvency Department in Putrajaya on Thursday (July 25), the Prime Minister noted that the department had exceeded its target of releasing 130,000 individuals from bankruptcy this year, based on figures from March last year to June 30 this year.
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Speaking at the 100th anniversary celebration of the Insolvency Department in Putrajaya on Thursday (July 25), the Prime Minister noted that the department had exceeded its target of releasing 130,000 individuals from bankruptcy this year, based on figures from March last year to June 30 this year.
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NewsTranscript
00:30and it happened that the relatives were burdened with a difficult question.
00:39Half of the people had to deal with the problems of people who were increasing and so on,
00:48but the relatives had to deal with the problems of individuals and companies that were in trouble.
00:57These people have already gone bankrupt.
01:01This is not a good job.
01:04We have to be patient.
01:06But alhamdulillah, because of the initiative of the ministry,
01:11especially Zalina and her colleagues,
01:15it seems that they have encouraged us to take some actions
01:20to give opportunities to our colleagues.
01:26Because sometimes this infidelity is a mistake,
01:32sometimes because of the economic situation,
01:35sometimes because of COVID-19,
01:38or previously the economic situation that affected their lives.
01:44These are all business mistakes.
01:48But our responsibility is to stimulate the economy
01:53and also to give opportunities.
01:56This is the second opportunity.
01:58Our first step to make Malaysia able to be a competitive and advanced country
02:06is a proactive step that must be taken.
02:09It requires leadership,
02:11and that's why I said the minister and colleagues,
02:14Jibakri and others,
02:16to think about what are the new steps.
02:20It's not just about following the rules,
02:24so we just follow them.
02:26But the responsibility of the ministry
02:29in a country that needs to make changes or reforms,
02:34and to lay the foundation of the foundation
02:38is also a good deed.
02:41We can move forward,
02:43but if there is no good spirit,
02:45if there is no compassion and forgiveness,
02:52then the opportunities of the people will be lost.
02:56So that's why in the Madani investment,
03:00we emphasize a few steps of change,
03:03and I am proud because
03:06the actions taken by the minister,
03:10the ministry and colleagues
03:12to bring changes,
03:14including the change in the insolvency act.
03:17Imagine,
03:19if in one year,
03:22this ministry shows their determination
03:28to release more than 130,000 people
03:33from exile,
03:35it means that 130,000 families
03:38have been saved
03:40from being deprived.
03:45So,
03:47I, on behalf of the government,
03:49of course,
03:50am here to express appreciation
03:53for the efforts that have been made.
03:58We can change the law,
04:02we can give space,
04:04but if the ministries and officials
04:07work in a sluggish state,
04:09they will not be able to achieve
04:11our target of 130,000 people.
04:13In fact, until now,
04:15as Mr. Bakri said,
04:18almost 140,000 people have been released.
04:25This means that
04:27you are a ministry
04:29that shows good performance.
04:31I say this because of the KPPA,
04:34and now we are studying
04:38the implementation of this system.
04:42So, the role of the insolvency office
04:46will certainly be given special attention
04:48because of the proud achievement.
04:54Sometimes, we get coverage
04:57from social media
04:59only negative things.
05:01It's true.
05:02Something is happening.
05:04There is a breach.
05:05There is corruption.
05:06There is corruption.
05:08But, what I feel upset
05:11and not happy
05:13is because of positive things like this
05:17are not neglected.
05:18As you know,
05:19140,000 people
05:22who will be released
05:24will be released
05:26directly.
05:28There is no effort to pay
05:3050,000, 100,000, 200,000.
05:32But,
05:34because of the government's decision
05:38to amend the law
05:40to give space
05:42for the ministry
05:44to re-investigate
05:46and in accordance with
05:49a more effective action
05:52from the public officials,
05:54especially in this ministry,
05:56we will release them.
05:57This means that
05:58with the action of one ministry,
06:00which is the insolvency ministry,
06:02140,000 families
06:05will feel relieved
06:07and will be able to face life
06:08in a good way.
06:11Then,
06:13if we release them,
06:15there will be no program
06:17to arrange them.
06:18They may be delayed.
06:19That's what was emphasized
06:21by the Minister of Justice, Mr. Zalina,
06:23a while ago.
06:24That's why it's called
06:25the second base of opportunity.
06:28The second base of opportunity
06:29we propose
06:31so that there are steps
06:33that must be known to them.
06:35First,
06:36don't repeat past mistakes.
06:38Second,
06:39understand the opportunities
06:41provided by the government
06:43and through a series of various offices
06:46and ministries,
06:48such as Tekun,
06:49Mara,
06:51or PUNB.
06:53These spaces are sometimes
06:55given opportunities,
06:56but do not receive support
06:58or reception
07:00because the relatives involved
07:03do not have the opportunity
07:06to understand
07:07or provide good contacts.
07:10That's why
07:13we provide
07:15the second base of opportunity
07:18and the relevant offices
07:22must provide
07:24and recognize the series
07:26of existing offices.
07:28There are many opportunities,
07:30and I heard
07:32from time to time,
07:33from Tekun,
07:35Mara,
07:37PUNB,
07:38Bank Negara,
07:40and various ministries,
07:43with ease.
07:45However,
07:46sometimes our weakness
07:48is due to
07:49lack of exposure.
07:51So, the responsibility
07:53is not only
07:55to inform them
07:57in terms of principles,
07:59but also to direct them
08:02to the relevant offices
08:05or agencies.
08:08As we can see,
08:10the act of insolvency
08:12that has been passed
08:14is only
08:16a form of invitation
08:19that provides
08:21the relatives
08:23with the opportunity
08:25to carry out the task.
08:27The government is proud of this
08:30because for us,
08:32out of 140,000
08:35individuals,
08:37companies,
08:39and families
08:41that are not
08:43well-informed
08:45about their future,
08:48this means
08:50that they can help
08:52promote growth.
08:54Right now,
08:55there are 142,510.
08:59When I see this number,
09:01I would like to thank
09:03all of you.
09:06I can eat with ease
09:08after this.
09:10But,
09:11in terms of the government,
09:13what do we need?
09:14Laws.
09:15We pass them.
09:16Offices.
09:17There are offices.
09:18But,
09:20the management and implementation
09:22must continue to be improved.
09:26In the government,
09:28these steps,
09:29I emphasize,
09:31are sometimes not followed.
09:33Not understood.
09:35So, the concern is
09:37that nothing is done.
09:39It's not true.
09:41It's rare.
09:42If you look at history,
09:44since independence
09:46until now,
09:47there has never been
09:49a government
09:51capable of solving
09:53142,500
09:57bankruptcy cases.
09:59But,
10:00it has already helped
10:02in solving it.
10:03And this must be known.
10:05That's why I choose
10:07to repeat this statement
10:09so that the people understand.