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GEORGE TOWN – Gerakan is urging the Finance Ministry to consider allowing workers to withdraw up to RM10,000 from their Employees Provident Fund (EPF) now.
This is to deal with rising living costs and the inability of some local employers to raise wages, said the party’s vice-president Datuk Baljit Singh.
“In reality, there continues to be hikes in the prices of eggs, cooking oil, poultry, and other essential items,” said Baljit in an interview.
He said people are also worried, especially if they have bank loans, about speculation that Bank Negara Malaysia would again raise the overnight policy rate.
Those with smaller amounts saved in their EPF accounts should be allowed to withdraw up to RM5,000, he also suggested.
Baljit proposed that Putrajaya negotiate with the EPF board to impose strict controls but allow leeway for an emergency withdrawal of up to RM10,000 for contributors who need cash.
Conditions can be imposed such as requiring contributors to replace the amount withdrawn when the economy improves, he said.
“We also call for a stop to politicking as the election is over. We must focus on helping the people who need help. The reality is that many need aid.” – The Vibes, January 6, 2023
