PAGOH: Allowing the public to withdraw their Employees Provident Fund (EPF) savings to help deal with the impact of the Covid-19 pandemic would pose a problem for the government.
Prime Minister Tan Sri Muhyiddin Yassin said EPF savings are meant to ensure the future wellbeing and financial security of contributors.
"I receive a lot of text messages from people asking the government to allow them to withdraw their EPF savings because they are suffering due to the Covid-19 pandemic.
"However, if we allow this, you (the contributors) will face a bigger problem in the future.
"Moreover, the government has spent billions on various initiatives to help the people without you having to withdraw your savings," said Muhyddin.
He said this in his speech at the opening of the annual general meeting of Koperasi SungaiTerap/Sungai Raya Muar Bhd at SMK Bukit Pasir here.
Earlier this week, former prime minister Datuk Seri Najib Razak proposed that the EPF allows contributors to make a one-off withdrawal of up to RM10,000 from their Account 1 to help them ease their financial burden due to the pandemic.
Muhyiddin said the 2021 Budget that will be announced next week will take into account measures needed to help the people face the pandemic.
"As a concerned government, Perikatan Nasional will take the necessary measures to help the people affected by the pandemic.
"The government has already allocated RM305 billion in various stimulus packages to help the people. The 2021 Budget will focus on efforts to control the spread of the virus," said Muhyiddin.
He said to date, the government has already allocated RM2 billion to the Health Ministry in its fight to contain the virus.
"In Sabah, which has seen a spike in the number of positive Covid-19 cases in the last few weeks, we have already spent RM400 million," said Muhyiddin.
He also said that the people should work hand in hand with the government to combat the pandemic.
"The government understands the difficulties faced by the people at this time. I hope and pray that the situation will improve soon so the economy can recover.
"As the Prime Minister, my responsibility is big and heavy. I am grateful that, thanks to the people's prayers, I am still able to continue to work," added Muhyiddin.