KUALA LUMPUR - The people need the Employees' Provident Fund (EPF) withdrawals now, not in 15 years, says former prime minister Datuk Seri Ismail Sabri Yaakob.
He said even though the Budget 2023 additional contribution initiative of RM500 was widely accepted, the government should not ‘shut the door’ on the people.
"I want to thank the government for giving the additional contribution of RM500 to B40 contributors.
"However, the money was inserted for contributors to withdraw it before retiring. If a person at 40 has to wait 15 years to withdraw the RM500, what is the point of the government doing so?
"People want it now, not in 15 years. They are facing difficulties now with homes up for auction, children entering universities, they are at a point of declaring bankruptcy.
"If we wait 15 years, their homes would have been auctioned off and they would be bankrupt,” he said during the Budget 2023 debate in Dewan Rakyat on Tuesday.
Ismail Sabri (BN-Bera) said the government should consider allowing targeted and conditional withdrawals.
He said the people must be given space to continue their livelihoods including flood victims.
"If not, many would be affected. Those facing floods in Johor may be in desperate need of funds.
"After Covid-19 when there were those in need we allowed (EPF withdrawals). I hope there will be good news from the Finance Minister later,” he said.