KSN TELLS GOVT AGENCIES TO PARTNER AKPK ON FINANCIAL LITERACY

CYBERJAYA, Dec 4 (Bernama) -- All government agencies have been instructed to forge smart partnerships with the Credit Counselling and Debt Management Agency (AKPK) to strengthen financial literacy among civil servants, says Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.

He said the move aims to address growing concerns over public officers trapped in debt and vulnerable to investment scams.

“We will establish smart collaborations. I’ve asked all agencies to do so,” he told reporters when asked about civil servants burdened by credit card debt or duped by non-existent investment schemes.

Shamsul Azri, who spoke after a public engagement session on board the MRT train from Cyberjaya City Centre Limkokwing to Putrajaya Sentral, said he has also directed Education director-general Dr Mohd Azam Ahmad to make AKPK-led financial management programmes compulsory in all schools nationwide.

“Excessive debt is one of the most common issues among civil servants, especially teachers. Many assume that borrowing to invest guarantees returns, but every investment carries risk,” he said.

Shamsul Azri cited poor understanding of financial risk, financial strain and pressure to meet spousal expectations as contributing factors.

“Sometimes it’s hardship, sometimes it’s the demands of the spouse. We will expand AKPK modules to address these issues,” he added.

Prior to this, Public Service director-general Tan Sri Wan Ahmad Dahlan Abdul Aziz reminded federal and state department heads to monitor the debt levels of their officers to prevent them from falling into unmanageable financial distress, a situation that could affect work performance.

Civil servants with debts amounting to 10 times their monthly salary may face disciplinary action under Regulation 13(7) of the Public Officers (Conduct and Discipline) Regulations 1993.

-- BERNAMA