KUALA LUMPUR: Allowing targeted withdrawals from the Employees Provident Fund (EPF) will be cheaper than allocating RM1bil to deposit RM500 in accounts with less than RM10,000, says Tan Sri Muhyiddin Yassin.
Savings from the RM1bil allocation can then be used to help flood victims, the Pagoh MP and Perikatan Nasional chairman added in his speech on Budget 2023 in Parliament on Monday (March 6).
“Contributors did not ask for the RM1bil allocation. They only asked for targeted withdrawals.
“If that (targeted withdrawals) is approved, the government could save (the money) and assist areas facing bad floods, as well as solve the issues faced by victims."
When tabling the revised Budget 2023 last month, Anwar said RM500 will be credited in the accounts of EPF members aged between 40 and 54 who have less than RM10,000 in their Account 1.
Anwar had said the programme will benefit two million EPF members and involve an allocation of almost RM1bil.
Elaborating, Muhyiddin said the announcement to help those with low savings in their EPF accounts only benefits contributors in a particular age bracket.
“Nearly 53% of contributors who are under the age of 40 would not receive any aid,” he added.
He also said the government should give a RM300,000 allocation to MPs whose constituencies were affected by the floods.
“This (RM300,000) can be used to render immediate assistance to victims."
Muhyiddin also said Johor was badly hit by the recent floods and Putrajaya should double its RM50mil assistance to RM100mil.
“The floods this time are severe,” he added.
Muhyiddin also said Budget 2023 lacked a clear direction as to economic recovery.
He said it had many unfulfilled promises made in the Pakatan Harapan GE15 manifesto, such as equal allocations to all elected representatives, dismantling “cartels” monopolising the food and basic necessities industry, among others.
“Does Tambun (Anwar) dare to admit that Pakatan’s promises were mere rhetoric?” he asked.
It was reported earlier on Monday that 49,410 people in Johor had been evacuated to temporary relief centres.
A total of 53,040 people in three states – Johor, Pahang and Melaka – were evacuated because of floods.
