Account Three would inject RM40-50 billion annually

The introduction of Account Three by the Employees Provident Fund (EPF) is expected to inject RM 40-50 billion annually into the economy, Nanyang Daily front-paged. It has the potential to revitalize stagnant consumer spending and offer a much-needed boost to the sluggish economy.

Sin Chew Daily led with Public Service Department (PSD) director-general (DG) Datuk Seri Wan Ahmad Dahlan Abdul Aziz, emphasizing the need to halt misconduct among civil servants, such as engaging in non-work-related activities on social media or playing online games during office hours.

China Press Daily end Kwong Wah Daily headlined the case of a retired mother facing threats such as vandalism to neighbours’ homes and arson warnings from illegal debt collectors. The problem stems from her son – a former real estate agent who disappeared two years ago after accruing gambling debts.

Guang Ming Daily headlined Penang Water Supply Corporation (PBA) chief executive officer K Pathmanathan, clarified that their bimonthly water bills are compliant with federal regulations. It is calculated on a “per cubic meter per month” basis. He said this while dismissing the notion of a price hike in the water bill.

Editorial

Nanyang Daily pointed out that while EPF’s Account Three has short-term benefits, it may have long-term disadvantages because contributors may foster dependency and impulsive decision-making, perpetuating poverty mindsets.

It said Malaysians need to innovate and their competitiveness.