Dewan Rakyat Sitting Focuses On Ringgit Depreciation, Retirees’ EPF Savings

Today’s session in the Dewan Rakyat saw critical economic concerns taking the spotlight as Members of Parliament engaged in a question and answer session, followed by debates on the royal address by His Majesty Sultan Ibrahim, King of Malaysia.

The depreciation of the Ringgit and the insufficient retirement savings in the Employees’ Provident Fund (EPF) emerged as focal points during the parliamentary discourse.

Lim Guan Eng (PH-Bagan) directed his inquiry regarding the declining value of the Ringgit to the Minister of Finance during the Minister’s Question Time (MQT). The inquiry delved into strategies to address the depreciation, reflecting concerns over its impact on the national economy.

Simultaneously, Hassan Abdul Karim (PH-Pasir Gudang) raised the issue of EPF savings, particularly addressing the alarming statistic that 35 per cent of EPF contributors aged 45 possess retirement savings below RM10,000. This raised questions about the adequacy of current policies to secure retirees’ financial well-being.

Following the question and answer segment, the Dewan Rakyat transitioned into debates surrounding the royal address delivered by His Majesty Sultan Ibrahim at the commencement of the parliamentary session on Monday.

As outlined in the parliamentary calendar, this Dewan Rakyat sitting spans 19 days, with the royal address debate slated from Feb 27 to March 7. Subsequently, ministries are set to provide responses over the course of four days, commencing March 11.

The parliamentary agenda will further progress with the tabling and deliberation of various bills and governmental matters scheduled from March 18 to 27.

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