Kuala Lumpur: The Skills Development Fund Corporation (PTPK) is setting a target for loan repayments to reach RM450 million for the year 2025, announced Human Resources Minister Steven Sim Chee Keong. This ambitious goal follows a significant increase in loan repayments collected by PTPK last year.

According to BERNAMA News Agency, last year PTPK successfully collected RM234.81 million in loan repayments, marking an increase of more than 50 percent compared to the RM157.29 million collected in 2023. During the previous year, PTPK provided education loans totaling RM521.12 million to over 25,000 borrowers. This year, the corporation aims to disburse RM500 million in loans to at least 20,000 Malaysians.

At the launch of the PTPK 2025 Loan Repayment Promotion Campaign and the 2024 Mega Lucky Draw at the World Trade Centre Kuala Lumpur, Sim highlighted that over its 25 years of establishment, PTPK has disbursed RM5.2 billion in skills training loans to 400,000 borrowers pursuing Technical and Vocational Education and Training (TVET) programmes.

Meanwhile, PTPK board chairman Ir Ts Zahir Hassan announced several initiatives to encourage borrowers to meet their repayment obligations. The corporation has introduced six special loan repayment promotion campaigns and lucky draws, offering borrowers the chance to win prizes. Zahir, who is also the MP for Wangsa Maju, detailed initiatives such as the Mega Lucky Draw in celebration of PTPK's Silver Jubilee, the MYPerkasa TVET Portal Lucky Draw, and promotions linked to national celebrations and festive seasons.

To facilitate easier repayments, PTPK is also offering promotions for full settlements through Employees Provident Fund (EPF) accounts, flexible repayment options using credit or debit cards, and exclusive lucky draws for borrowers choosing salary deduction payments. Zahir expressed confidence in the positive outcomes of these efforts and expressed hope for achieving the loan repayment targets set for this year.