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Cash Is Still King: Najib Razak Wants Another RM10K For Rakyat

Cash Is Still King: Najib Razak Wants Another RM10K For Rakyat

Najib’s latest proposal on another round of cash has set tongues wagging.

Fernando Fong

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Former Prime Minister Datuk Seri Najib Tun Razak urged the government to approve another round of  i-Citra scheme under the Employees Provident Fund (EPF).

The statement came in the wake of Barisan Nasional’s big win in the Melaka State Election (PRN) last Saturday.

READ MORE: Barisan Nasional Wins Melaka State Elections

In the statement, which was made through a post on his Facebook page, the Pekan MP asked Minister of Finance, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, to act immediately on the request.

The Power of ‘Bossku

Following the former Prime Minister’s proposal, netizens were filled with much enthusiasm.

They fully support the proposal and hoped that the government would immediately approve another i-Citra withdrawal of RM10,000.

Thank you Dato, in happily celebrating the victory, (you) still remember the people who are in difficulties,” wrote Naim Nazihar in the comments section.

Netizen Naim Nazihar on the i-Citra proposal by Datuk Seri Najib Tun Razak

I’ve applied for jobs everywhere, but not everyone wants to hire, they prefer those who are healthy and under 30 years old. That is why we need RM10,000 to use as capital for small business.

Netizen Kal Lie on the i-Citra proposal by Datuk Seri Najib Tun Razak
Source: Facebook

At the time of writing, the post had attracted more than 17,000 comments and 96,000 likes.

Najib had been credited with suggesting the withdrawal scheme since the early stages of the Covid-19 pandemic last year.

Don’t Count Your Chickens Before They Hatch 

Even if the scheme is approved, not all would get to enjoy.

The reason is simple: they don’t have that sufficient savings in their EPF account.

READ MORE: 6.1 Million EPF Members Have Less Than RM10,000 For Retirement, Says Finance Minister

Furthermore, such EPF withdrawals are meant as stop-gap measures and not to be taken as long-term solutions.

The idea is to replenish it once the person’s income returns to normal.

Credit: Yusof Mat Isa/Malay Mail

Those who had to dip into their retirement funds often have very little left in it in the first place.

Many would have cleared a massive amount of their savings in the previous i-Sinar and i-Lestari schemes.

READ MORE: i-Sinar: EPF Allows Account 1 Withdrawal Up To RM60,000. Here’s How

The money in EPF is meant to ensure a basic lifestyle after retirement, and so, be vigilant and count the cost before making the withdrawal.

Accordingly, one needs at least RM240,000 in EPF savings in order to support their basic retirement needs, based on the calculation of RM1,000 per month for 20 years from age 55 to 75.

Will The FM Sing The Same Tune Once More With Bossku?

Finance Minister Tengku Zafrul was first appointed by Najib’s rival, Tan Sri Muhyiddin Yassin in 2020 following the downfall of Pakatan Harapan’s government.

However, Tengku Zafrul certainly enjoys a good relationship with Najib, more than most people would imagine.

The technocrat was one of the singers in a music video for Najib’s 2018 election campaign.

The “Hebat Negaraku” music video, a four-and-a-half-minute clip, features several heads of government-linked companies (GLCs) showing support for Najib’s leadership.

Tengku Zafrul was Chief Executive of Malaysian banking group CIMB at that time, when Najib’s younger brother Nazir Razak was the Chairman.

Nevertheless, Tengku Zafrul is a professional banker.

It would be unreasonable to assume that he would support Najib’s proposal based simply on friendship.

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