Govt urged to expedite giving approval for PTPTN to invest

Govt urged to expedite giving approval for PTPTN to invest

JITRA: National Higher Education Fund Corporation (PTPTN) today urged the government to expedite the process of allowing the agency to carry out investments to enable it to provide better dividends for its depositors.

Its chairman, Datuk Wan Saiful Wan Jan said PTPTN, which is an agency under the Ministry of Higher Education, needed the government’s quick decision on the matter to prevent it from missing out on attractive offers from fund managers.

“For example, if the offer we get provides a return rate of 4.75 per cent, but if it takes up to five or six months (to be approved), then the economic situation would have changed, so the 4.75 per cent commitment may no longer exist,“ he told reporters after the breaking of fast with members of the Kedah Elite Media Club here yesterday.

Wan Saiful said every PTPTN investment proposal submitted to the government had been carefully planned, including identifying investment institutions that could bring high returns to the agency.

He said it was important for PTPTN to take advantage of opportunities that offered more profits for the agency to ensure depositors get good returns and keep saving with the corporation.

Meanwhile, Wan Saiful said PTPTN had recorded a good performance in providing dividends to depositors under its two products of the National Education Savings Scheme (SSPN), namely the Simpan SSPN Prime and Simpan SSPN Plus.

“My commitment is to make sure all depositors are given a fair return. Previously our dividend was around four per cent. It dropped slightly early this year (three per cent), but that is due to the current market situation and economic conditions,” he added.

He said PTPTN will continue to promote its savings products, especially in rural areas and universities to encourage more people to deposit under SSPN and benefit from it. — Bernama