PTPK RECORDS RM234.81 MILLION IN LOAN REPAYMENTS LAST YEAR

KUALA LUMPUR, Jan 20 (Bernama) -- The collection of the Skills Development Fund Corporation (PTPK) loan repayments in 2024 has shown a 49  per cent increase from 2023, demonstrating PTPK’s strong commitment to managing the fund efficiently, ensuring no student is left behind or misses the opportunity to further their studies in Technical and Vocational Education and Training (TVET).

PTPK Board of Directors deputy chairman, Rajiv Risyakaran, said PTPK is committed to collecting loan repayments to ensure the sustainability of the TVET Training Fund.

“The total amount of loan repayments successfully collected by Dec 31, 2024, according to the approval year, is RM234.81 million, or 78 per cent of the RM300 million target set for 2024.

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“In comparison, by Dec 31, 2023, the loan repayments collected amounted to RM157.29 million, or 53 per cent of the target of RM295.24 million,” he told a press conference here today.

Rajiv said that the increase in repayment percentage was also driven by PTPK’s promotional repayment programmes, which aimed at raising public awareness of PTPK’s role in supporting skill development in the country.

Today, PTPK also launched the 2025 Chinese New Year Lucky Draw campaign as an initiative to encourage loan repayments. Borrowers need to make a minimum repayment of RM300 during the campaign period, from Jan 10 to 31, to be eligible to win exciting prizes, including electrical goods vouchers of RM1,000 (1st place), RM700 (2nd place), and RM500 (3rd place).

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-- BERNAMA