GLCs, foreign firms can help wipe out hardcore poverty, says NGO

 

The number of hardcore poor households in the country had decreased from 124,744 to 118,217 in the five months leading up to May 15.

PETALING JAYA: The Poverty Eradication Foundation (YBK) has suggested that the government reactivate a proposal to establish a “1% club” to eradicate hardcore poverty in the country.

“We call on government-linked companies and foreign companies in Malaysia to place 1% of their profits in a fund that can be managed by the government,” said YBK chairman Zainal Abidin Sakom, according to a Bernama report.

As efforts to eradicate poverty required a lot of money, he said private sector players should contribute to the fund, with the amount to be matched by the government.

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He added that NGOs and other associations could also contribute to the fund.

Zainal said while the proposal was agreed upon by Prime Minister Anwar Ibrahim when he was finance minister in 1996, it could not be implemented at that time.

In June, Anwar said he wanted the entire government machinery to work together to eradicate hardcore poverty this year.

The number of hardcore poor households in the country decreased from 124,744 to 118,217 in the five months leading up to May 15.

The hardcore poor refers to households with a monthly income of less than RM1,169. - FMT