The Human Resources Ministry will propose a new loan scheme for SPM-leavers going for vocational courses at skills training institutes to reduce the rate of non-performing loans by students who completed their studies
The rate of repayment loans from the Skills Development Fund Corporation (PTPK) is only 53% - with about RM500 million outstanding in loan repayments according to Datuk Seri Dr S. Subramaniam
"We are trying to improve the process - every year we get RM100 million (in training funds) for SPM-leavers and an additional RM100 for workers, but this is not enough, every year we rely on additional Government funding," he said.
The Government needs to spend RM400 million annually on SPM-leavers alone to produce sufficient skilled workers for the industry's demand.
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