April 24, 2024

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Consider targeted EPF withdrawals, moratoriums, Muhyiddin tells govt

moratoriums

Kuala Lumpur, Feb 15 — Pagoh MP Muhyiddin Yassin today voiced hope that the government would focus on efforts to develop the national economy and to protect the welfare of the people. He said this included considering the withdrawal of Employees Provident Fund (EPF) savings and moratoriums on bank loans.

“This should be the government’s real duty, to listen to the people who want remedies.

“For example, there is nothing wrong if the government considers targeted EPF withdrawals, if that is what the people want in order to reduce their burdens during these tough times,” he said when debating the motion of thanks on the Yang di-Pertuan Agong’s royal address in the Dewan Rakyat today. 

moratoriums

The Perikatan Nasional (PN) chairman said that banks continued to make profits even when the country is facing a crisis, therefore it was only fair for these financial institutions to help the people by providing loan moratoriums to cope with the effects of inflation and overnight policy rate hikes.

Muhyiddin said that Bumiputera polices was another important matter that must be given priority by the government.

The former prime minister said that in today’s context, a large number of those who had slid from the B40 group to the B60 were Bumiputeras.

“A multiracial country will not be stable and prosperous if the majority race is in the poor and low-income group with the gap between the rich and poor widening.”

Muhyiddin, who is also Bersatu president, said PN would be an effective opposition by ensuring constructive checks and balances. 

“PN MPs will continue to play our role with integrity and uphold our ‘caring, clean and stable’ principles. Good policies we will support, but not policies that harm the people,” he said.

NMT as reported by Bernama