KUCHING: Minister of Entrepreneur Development and Cooperatives Datuk Seri Dr Wan Junaidi Tuanku Jaafar has called for a review of the laws pertaining to bankruptcy.
He said the laws were unjust whereby too many restrictions were being imposed on those who had filed for bankruptcy, making them incapable of settling their debts.
“The problem is our system. Those who are declared bankrupt cannot do this and that.
“If they are unable to do business, how are they supposed to pay off their debts?” he asked.
He said this when fielding a question on the eligibility of bankrupt individuals to apply for Tekun Nasional’s financial loans during a press conference here on Saturday.
Wan Junaidi, who is also Santubong MP, said he had discussed the matter with the law minister in efforts to amend the current laws related to the issue.
“The government’s system should also be amended to allow for these people to work and conduct their businesses in order to pay their debts.
“Some who are bankrupt in their 20s ended up being bankrupt for their whole life. How are they supposed to pay off their debts.
“These laws should not exist as they are truly unjust,” he stressed.
