The Annual Percentage Rate

The Annual Percentage Rate(APR) on purchasing on credit should be informed by the banks or finance companies. It is said that a consumer would pay more in a year. It is said if the lending is 5% per annum it may should up to say 10% per annum. This is the hidden cost where the banks/finance companies would not tell the borrowers. The Consumers Association of Penang had advocated that the financial institutions should be transparent and responsibile to lay out the actual cost of interest paid for the loan. The CAP gave an example of a loan -cash price $1,199 pays by 24 months instalment plan of $82. The APR will be 64% which isnt disclosed to the borrower. It is time the government should sit up and do its maths. I just dont get it. Dont the minister concerned look into this at all? AAB has appointed so many ministers in his Cabinet and what they are doing? If they say they have so many to look at, then they shouldnt be in the Cabinet. Let somebody who enjoys it to be the minister to help the voters..