The Malaysian Insight

THE government has heard the people’s lament on the issue of the moratorium and the Employees Provident Fund (EPF) i-Sinar withdrawal, said Tengku Zafrul Tengku Abdul Aziz.

In a brief post on Facebook today, the finance minister fuelled hope by saying aid was on its way.

“I have discussed this with the prime minister and the related agencies. The government has heard the people’s voice and the relevant aid will be announced in the near future. InsyaAllah,” he said.

Science, Technology and Innovation Minister Khairy Jamaluddin recently said that Prime Minister Muhyiddin Yassin would announce another round of economic assistance soon.

Currently, the repayment assistance for bank loans is given on a targeted basis instead of as a blanket moratorium as it was during the first movement-control order (MCO).

Those who lost their jobs, suffered from income reduction, small- and medium-sized enterprises in sectors that are not allowed to operate and Bantuan Prihatin Rakyat recipients are eligible.

The affected borrowers can opt for a three-month moratorium on repayment or a 50% reduction in monthly repayment for six months.

Meanwhile, the i-sinar EPF scheme allowed contributors to withdraw up to 10,000 from their Account 1.

Several MPs from the opposition and Barisan Nasional, including former prime minister Najib Razak, have called for a moratorium in view of MCO 3.0.

Driving home his message, Najib said the i-Sinar and i-Lestari withdrawal facilities from EPF should be continued during the latest lockdown.

He pointed out that people are desperately in need of cash in hand.

Najib noted the withdrawals did not have a huge impact on EPF’s investments and returns.

“Listen to the voices of those who are unable to cope anymore and can only depend on their own money in EPF because of the various extensions to the movement-control order (MCO),” he said in a Facebook post earlier today. – June 26, 2021.