YOURSAY 'I am flabbergasted as to such poor collection and recovery of the PTPTN loans given out. At the end of the day, it is the will to perform that matters.'
Dirty data behind PTPTN's mountain of debt
Ferdtan: National Higher Education Fund (PTPTN) chief executive officer Agos Cholan said that "it doesn't mean we can't work, we can."
dare say the problem is much bigger than what he is trying to paint. I
think it is a total mess. The only way out of the dilemma is to abolish
it when Pakatan takes over Putrajaya. Why do I say it?
My daughter and my nephew took PTPTN loans, and both are having problems with the agency.
My daughter had been trying to pay back her loan, and after many phone
calls made to the centre with no result, she once had to take leave to
go the centre to enquire. Then only the problem was solved.
reason she took such active steps in trying to pay back was that she had
read in the newspaper that some delinquent debtors had been stopped at
the airport from travelling due to the non-payment of PTPTN debt. She
didn't want to face that consequence.
Now do you know why the debts keep piling up?
much of the loan was legitimately given to deserving and qualified
students? Who are responsible for the administration and management of
the PTPTN loan?
I am flabbergasted as to such poor collection and
recovery of the loans given out. Cannot trace is simply an unacceptable
excuse as the establishment has all the machinery to back them up. At
the end of the day, it is the will to perform that matters.
My relative who was not informed of the success of her claim on the first BR1M (Bantuan Rakyat 1Malaysia) was
told recently that records show she was paid last year when she went to
register and apply again for the second BR1M payments, which is
expected to pay out soon next year.
Now who did they pay to for the first BR1M payment which she did not receive but was paid out?
Clearly this entire exercise was badly handled right from the
beginning, the lack of accountability and oversight further compounded
the problem to the crisis we see today.
The numbers involved are
mind-numbingly high but the reality is that there is no point now
throwing road blocks in front of them.
The RM26 million for
Paradigm to develop a database system is an acceptable figure under the
circumstances when you need a system to manage and recover RM45 billion
which you cannot afford to lose.
They should be allowed to move
ahead but there must be real accountability and oversight, with the
officers in charge such as PTPTN CEO Agos Cholan and others must be made
to understand that there will be severe ramifications to them if they
do not deliver.
Not only should the system be successfully
commissioned but every recipient must be traced and given the friendly
option to start repayment or face immediate legal action.
The figure in question dwarfs all other financial scandals and cannot be ignored for political expedience.
New graduates are asking higher wages because they are forced to take
loans, this translates to higher running costs that are passed on the
customers, thus driving up prices.
I feel for these students,
who are being saddled with a RM600 debt every month when they are
earning so little when they start out.
But there is no choice
but to pay low salary until you find out if they are worth it, so many
"qualified" people know next to nothing and need to do all their
training on the job.
Pemerhati: PTPTN cannot
trace the students who took the loans? We know that Umno is an expert in
creating phantoms. We have heard of phantom voters and most probably
the other Umno-created schemes to dish out money like PTPTN, BR1M, etc,
have phantom recipients too.
This is another nice and easy way
for the Umnoputras to siphon off the people's money in addition to the
other well-known methods such as buying unnecessary military hardware at
exorbitant prices and collecting huge kickbacks (for example, about
RM500 million in the case of Scorpene submarines) and giving negotiated
contracts for mega projects to cronies at very high prices and then
getting huge kickbacks from them as was the norm under former PM Dr
Mahathir Mohamad and which was continued by Abdullah Ahmad Badawi and
Unacceptable! Tax on my hard-earned money (I never received any
scholarship or loan and my poor parents had slogged it out for years to
enable me to be educated and become an accountant) thrown away again.
a recovery firm to pursue for collection - maybe the people involved
would not want that as their mismanagement and/or corruption will be
exposed. Pay the collection agency based on the amount recovered.
Ong Guan Sin: The
hallmark of 55-year-old Umno-BN regime has been endemic corruption. But
it has now also emerged that incompetence and ineffectiveness to govern
are now additional characteristics of the regime.
must wake up to the reality - we have bred a very sick patient that must
be prescribed with strong dose of medicine for it to have any chance of
recovery - kick it out of Putrajaya once.
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