The FF Plus is requesting the Minister of Trade and Industry, Ebrahim Patel, to use the powers he has in terms of the current national state of disaster and consult with credit providers, like banks, to offer individuals and businesses in particular a so-called repayment holiday of four to six months so as to save them from financial ruin.
In the context of the current circumstances brought about by the corona pandemic where smaller businesses can hardly generate any income, such an arrangement is absolutely vital to prevent any further damage to the already struggling South African economy.
Individuals and businesses will simply not be able to meet their debt obligations in the foreseeable future and that will lead to extensive retrenchments, which will only contribute to the already serious unemployment problem in the country.
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