PUTRAJAYA, July 25 - A total of 142,510 bankruptcy has been discharged, exceeding the initial target of 130,000 through the Second Chance Policy.

Prime Minister Datuk Seri Anwar said it was an initiative of the programme introduced last year.

“...since independence, no government has been able to solve the 142,500 bankruptcy cases, but you have helped to solve it, that is why I repeat this statement.

“While they have the room to breathe, we have the Rahmah cash aid for nine million people, at RM10 billion a year. It is this cash transfer to the people, especially the M40 and B40, that provides a momentary relief for them to conduct new businesses and activities,” he said at the launch of the 100th year of the Department of Insolvency (MDI) and New Directions in Putrajaya.

Reformation of the Second Chance Policy will also be announced in the upcoming budget presentation.

This policy is an initiative under the Rukun Ihsan Principle (Principle of Compassion) to implement the law for the people who are in need.

The Second Chance Policy was announced by the Prime Minister during the 2024 budget presentation, specifically to those who were declared bankrupt, with the hope of giving them a chance to contribute to the country’s economy again and live a new life.