Former finance minister Lim Guan Eng has claimed that the Pakatan Harapan government had found a way to implement its promise to defer National Higher Education Fund (PTPTN) loan repayments until borrowers earn more RM4,000 a month.

This was one of Harapan's key manifesto promises, which the fund's chairperson Wan Saiful Wan Jan previously said in Nov 2018 could not be fulfilled due to the country's debt situation. 

Lim (above), in a statement today, said PTPTN had presented a formula which was approved by the Finance Ministry.

"(This formula) will result in the government having to bear additional loans on top of existing ones borne by the government to finance the PTPTN loans.

"Unfortunately, the Harapan government fell before this formal announcement could be made," he said.

Lim hoped that this formula would still be fulfilled despite the additional loan obligations that would be incurred by the government.

Malaysiakini has contacted Wan Saiful (photo) for further details. He said he will be issuing a statement soon.

It is understood that the plan had indeed been presented to the Harapan cabinet but it is unclear when it was approved.

The Harapan government fell last week after a coup attempt which ultimately resulted in Muhyiddin Yassin being sworn-in as the prime minister of a Bersatu-BN-PAS coalition, dubbed Perikatan Nasional.

In the 21 months that Harapan was in power, there were several new PTPTN payment scheme proposals, including one that would see a percentage of Employees Provident Fund contributions rerouted for loan repayments.

However, none of the repayment proposals was implemented.