National Insurance Is Malaysia’s Next Best Choice

Aren’t you tired of seeing the gap between the rich and poor widen in Malaysia? The UNHDP report shows that the richest 10% in our country control almost 38.4% of our economic income while the poorest 10% only control 1.7%. The saying goes, “The rich become richer, and the poor become poorer,” does not seem like an understatement at all.

Here is my solution: NI. National insurance (NI) is a social security system used to provide financial support for people during different stages in their lives. This is a major and crucial step that should be looked into by the government to improve the lives of the B40 and hardcore poor communities in our country.

So how could the implementation of NI help our people?

The citizens of the country who fall under M40 and T20 and some self-employed individuals will be responsible for paying a certain amount to contribute to NI. Additionally, the government will also fund the system through contributions and other sources of government revenue. The money collected will be used to fund the most crucial aspects of the needs of the B40 and hardcore poor communities.

The most important aspect is the enhancement of public services. This enhancement would include healthcare, education, and social welfare programs.

Think about it. With an increase in funding for the healthcare sector through NI, waitlists for treatments and procedures could be reduced, and resource allocation could be improved. Targeted social welfare programs could help those in need, such as the B40 and hardcore poor communities, receive the support they deserve.

These are just a few benefits that our citizens could gain from the implementation of such a system. True, this system will have its cons, but that depends on how the government handles them.

It must be noted that if implemented, the government would play an important role in determining the specific goals and objectives that the system would give to the nation. Can our government take the challenge of doing so?

I believe that this system must truly be studied. It is the government’s responsibility in giving the best that it can to help its citizens and should try every method possible to do just that. This system is meant for long-term purposes. We need to start now to equalize the income made by the nation’s rich, and current poor.

Article attributed: Mahathir Mohd Rais, Information Chief (Perikatan Nasional) Federal Territories

The views expressed are those of the writer and do not necessarily reflect those of BT

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