PTPKProtein-Tyrosine Phosphatase Kappa
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He said PTPK is offering incentives to the tune of RM40,000 to the borrowers who repay under the 'Pay and Win' promotion between July 1 and September 30.
"Funding (PTPK) mechanism should be similar to PTPTN.
"Because now, funding to PTPK is determined by the MOHR (Ministry of Human Resource).
In a discussion earlier, FeMAC also highlighted the need to make PTPK transparent and accessible to all.
On October 9, Malay Mail reported that more than 20,000 students from private Technical and Vocational Education and Training (TVET) colleges may be forced to discontinue their studies due to inadequate allocations to the Skills Development Fund Corp (PTPK).
The Federation of JPK Accredited Centres (FeMAC) said these students are largely from the bottom 40th percentile (B40) and have no other means to pay for their courses without the PTPK loans.
FeMAC also complained that over the last four years, the Human Resources Ministry has been consistently reducing the allocation of funds for PTPK with the total amount of funds being cut being reduced by a staggering 60 per cent.
She said although there is an ongoing corruption case against the former political secretary of the Human Resources Ministry involving some RM40 million of PTPK's funds since last year, this was no excuse to freeze the disbursement of loans to deserving applicants.
'It is worrying that a significant number of PTPK applicants were not approved in the last eight to 12 months due to a lack of funds.
The PTPK received RM 25 million in Budget 2018, or less than what it needs to lend to all the applicants.
In September 2017, the Malaysian Anti-Corruption Commission detained the 61-year-old political secretary for allegedly misappropriating RM40 million channeled through PTPK.
Three PTPK officials, a company director and a political secretary to the then human resources minister Datuk Seri Richard Riot Jaem were arrested last September for investigation into alleged embezzlement of its funds.