Prime Minister Anwar Ibrahim said it’s better for the government to consider other effective options besides allowing another round of special Employees Provident Fund (EPF) withdrawals to help those impacted by the Covid-19 pandemic.
He voiced out his concern as most contributors had very little in way of savings, and if the government allowed withdrawals again, it would affect the future of the contributors themselves when they retire.
“I’ve checked the amount of savings and for a majority of contributors, it is too small, and I am very concerned about their future. It would be better for the government to look for options to help them,” he told reporters.
In response to Anwar’s comment, two non-governmental organisations, Persatuan Penyelesaian Pengguna dan Peminjam Malaysia (4PM) and Pertubuhan Aktivis Rakyat Malaysia (Prorakyat), urged the government to allow special EPF withdrawals of up to RM30,000. They believe the one-off withdrawal of between RM10,000 and RM30,000 would be a short-term solution so that the people would not run out of cash to spend.
ProRakyat president Khairul Anuar Othman has submitted a memorandum to Prime Minister Anwar Ibrahim asking him to consider a special withdrawal of up to RM30,000.
He said many EPF contributors have pending bank loans that need to be settled, while those who have obtained new jobs or have ventured into small businesses after losing their jobs during the pandemic need some cash injection urgently. He also believes applying for loans is not the best solution at the moment.
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