KUCHING, March 20: Bintulu MP Dato Seri Tiong King Sing has urged the government to increase the distribution of Employees Provident Fund (EPF) dividends to contributors in the B40 group while reducing it for high-income contributors.
In his Facebook page today, Tiong said in addition, the government should also encourage high-income contributors to contribute back to society through corporate social responsibility (CSR) initiatives.
“This way, I am confident we can bridge the gap between the rich and the poor, driving economic and social recovery in our country,” he said.
Meanwhile, Tiong said the government’s announcement to allow EPF contributors to withdraw RM10,000 in savings would benefit the B40 group and those facing financial difficulties due to Covid-19.
According to Tiong, many of them are still struggling with financial problems, including paying off home loan debts and vehicles and property damage due to floods.
“Most of them do not intend to make a loan from the bank because it will add to the existing debt. I am sure contributors will not withdraw from their savings if there is no need or their situation is not too urgent,” he added.
Tiong pointed out that many were affected by the closure of economic sectors due to previous outbreaks and lost their jobs. In addition, it wasn’t easy to find employment.
He added many of them have taken the initiative to start their own business.
“With the withdrawal of RM10,000 from EPF, it can be used as their start-up capital to start their businesses and change their lives for the better,” he opined. — DayakDaily
