For subscribers
Dismay at KL govt's rising use of reserves amid Covid-19 crisis
Move to allow withdrawal of retirement savings and dipping into trust fund draw flak
Sign up now: Get insights on the biggest stories in Malaysia
Shannon Teoh Malaysia Bureau Chief In Kuala Lumpur, Shannon Teoh
Malaysia's struggle to balance its books while keeping the economy ticking has seen successive governments raid statutory funds more aggressively after almost emptying the Treasury, with the Covid-19 crisis deepening the fiscal squeeze.
This has led the barely year-old Perikatan Nasional (PN) administration to green-light withdrawals by private-sector workers - worth a whopping RM77 billion (S$25 billion) so far - of their retirement savings from the Employees Provident Fund (KWSP).
