As a EPF member, I am very worried of my savings as the govt is the using my money in the EPF TO SOLVE ITS FINANCIAL PROBLEMS.
As every malaysian knows,currently the govt of Malaysia is BANKRUPT BECAUSE OF CORRUPTION BY UMNO and BN. It would not be long before our national oil company PETRONAS will be BANKRUPT like PERTAMINA.
Recently,the govt ordered EPF to finance RM 1.5 BILLION for a housing project by the Ministry of Federal Territory for malaysians who are not qualify for bank loans to buy houses. This was announced by the Raja Nong Chik.
This is a risky investment as the loan may go bad due to the poor financial background of the borrowers.
I want to ask Nong Chik,why should EPF finance this project when Dewan Bandaraya KL can finance this project.The annual turnover for DBKL is around RM 11 BILLION.Where have this money gone?
Therefore,it is time we amend the EPF ACT which will state clearly:-
a) The type of investment it should invest.
b) The type of project it should financed
c) No govt influence in its decision to invest or not.
Thus,we can ensure that all investment decisions made by EPF is tranparent and accountable to members like me.
I am very worried because the govt is influencing EPF in its investment decision to benefit Umno and BN like what is currently happening in PETRONAS.
The corrupt MOF II Yakob will able to influence EPF because his machai Shahril Reza is in EPF.
To get rid of all this nonsense and to safeguard our EPF savings,we should change the govt in the next election.