Sungai Petani: Opposition lawmaker Wan Ahmad Fayshal Wan Ahmad Kamal should do his research to gain a better understanding of the recent announcement regarding the Employees Provident Fund (EPF) dividends, said Sungai Petani Member of Parliament (MP) Dr Taufiq Johari.
According to BERNAMA News Agency, Dr Taufiq was responding to comments made by Bersatu’s Machang MP Wan Ahmad Fayshal, who raised questions about the total payout of RM73.24 billion, which nearly utilises the entirety of EPF’s RM74.46 billion investment income for 2024.
Dr Taufiq criticized the statement by Wan Ahmad Fayshal as an unreasonable attempt to dampen the EPF dividend announcement, suggesting it was a political maneuver meant to confuse the public. He highlighted that the EPF dividend announcement of 6.3 per cent for both conventional and Syariah savings is positive news for the country, marking the highest rate announced since 2017.
He further implied that Wan Ahmad Fayshal and his party were reluctant to acknowledge the economic management improvements under Prime Minister Datuk Seri Anwar Ibrahim’s leadership. Dr Taufiq pointed to the higher EPF dividends, GDP growth, and record Foreign Direct Investment as evidence of the MADANI government’s successful economic management, contrasting these outcomes with the previous governments’ results, of which Wan Ahmad Fayshal was a part.
Additionally, Dr Taufiq emphasized that Wan Ahmad Fayshal should do his research as similar principles were employed during the Perikatan Nasional era, albeit with lower dividend rates reaching the people. He cited the example from 2022, where the investment income was RM55 billion, and RM51 billion was paid out in dividends, noting the difference in numbers rather than principles.
On March 1, the EPF announced a dividend rate of 6.30 percent for conventional savings with a total dividend distribution of RM63.05 billion and 6.30 percent for Syariah Savings with a total distribution of RM10.19 billion. The total dividend distribution in 2024 is RM73.24 billion, the highest since 2017.