PETALING JAYA: Former prime minister Najib Razak has stepped up his campaign for lump-sum withdrawals from the EPF pension account with a visit this evening to a noodle stall run by former airline pilot Captain Azrin Mohamad Zawawi.
In a Facebook posting earlier, he said Azrin was an example of how a one-off RM10,000 withdrawal from EPF Account 1 could help small businesses and petty traders who had suffered loss of income during the Covid-19 pandemic.
“Of course, such a one-off RM10K withdrawal can help Capt Azrin grow his stall business. Indirectly, Mak Kiah (the government’s fictional example of a petty trader) can also expand her fried banana business to sugarcane water and so on,” said Najib.
He questioned why the government continued to insist on a withdrawal limit of RM500 per month from Account 1, applicable only for those who had lost their jobs, saying this was not the financial assistance that people needed.
EPF said earlier today that the Account 1 withdrawal programme, called i-Sinar, is being fine-tuned and details would be announced on Wednesday.
Separately, finance minister Tengku Zafrul Aziz said the government was prepared to increase the number of contributors eligible to withdraw their savings from Account 1. He said negotiations were still being held and details would be announced “in a few more days”.
Najib had asked in his posting earlier: “What about those who did not lose their jobs but receive less income because their overtime, allowances, or commissions are reduced or their basic salary was cut by employers?”
He said a lump-sum withdrawal of RM10,000 could go towards settling arrears on utility bills, rent payments or home loans, necessities for children, outstanding insurance contributions and others.
“The “lump sum” money can also be used as basic capital to start a small business, especially for those who have lost their jobs,” he said whereas the monthly RM500 withdrawal would not be able to be used for these purposes.
Support small traders and businesses
As an alternative, he urged the EPF to consider allowing one-off withdrawals of RM3,000 or RM5,000.
He later visited the noodle stall run by former Malindo Airline pilot Capt Zarin, who was among 2,000 staff retrenched by the airline earlier this month.
Najib said: “As a result of Covid-19 and economic problems, he is now a small trader. I know many are also working on their own. The people have no choice. It is not easy to get a new job.”
He urged the people to support small traders. He said many suffered from unstable and very low income, not enough to cover costs or support their families.
“The people want and need a comprehensive action plan,” he said. “We cannot allow economic problems to continue. We cannot let the people face income and financial problems. This brings instability and hardship.” - FMT
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