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Wednesday, November 30, 2011

EPF waived billions of Ringgit owed by BN govt

We are referring to a recent news report mentioning the Employees Provident Fund (EPF) board of management has decided to waive some part of the RM2.9 billion loan owed by the BN federal government.

We are indeed gravely disturbed and disappointed with the EPF board's inaccurate decision to waive the billions of Ringgit in loan repayment from the government and we do not understand why it has to be like that.

First, the money in the EPF is ours, as well as millions more workers out there and all those savings are mean for our retirement in future. Then, helping to reduce the burden of the Umno-led BN federal government by waiving their loan repayment is not the duty of EPF and certainly it is not our duty too as well.

Government expenditures are overseen by these civil servants and they are guaranteed with a whole life pensions throughout their retirement age. To ease the government's financial burden or whatever financial deficit they are suffering from, these civil servants should take the cut in their pensions and salaries and to reduce their unnecessary spending.

Just look at the recent auditor-general's report on how these civil servants spending the government funds. It is a very clear cut mismanagement and power abuse in the civil service sector that no one from the top seems to care about.

It is not only one auditor-general's report, the report has been made yearly and the same old mismanagement of public fund has been mentioned on and on and you expect us to bear all these consequences by sacrificing our hard earned savings from the EPF?

We fear that EPF would one day turned into a "full fledged bank" to finance some sort of cronies related to Umno or whoever it is from the BN coalition. It must be made clear that the EPF board does not really represent the contributors at all. We didn't elect them to sit in the boardin the first place.

As such, please do not mess with our money, our hard earned saving for our"simpanan di hari tua". By the way, we also learned that UEM Group Bhd has also waived some millions of Ringgit of their loans to the government under an undisclosed "new agreement".

If UEM wants to help to ease the government's financial trouble, by all means. Hands off our money please!

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