KUALA LUMPUR: Many civil servants are taking up more loans to cope with the rising cost of living, resulting in them being declared bankrupt.
Cuepacs president Datuk Azih Muda (pic) said civil servants from the middle and lower ranks were resorting to such measures, thinking that it would offset their expenditure owing to the rising inflation rate.
How wrong they are. Our rough estimate shows up to 100,000 civil servants may soon be declared bankrupt. As of now, 3,000 of them are already bankrupt.
This situation may worsen as many more are also taking up loans from loan sharks, he told reporters during a launching of a Workers Seminar, in conjunction with Labour Day, yesterday.
Azih said they could lose their jobs or get suspen…
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