The Employees’ Provident Funds (EPF) decision to create Account 3 and give access to contributors to withdraw funds anytime is a serious failure on the part of the government. Many see it as a move to address the economic struggles faced by numerous contributors due to very low income levels.
Criticism of Wage Suppression and Government Policy
Critics argue that the root cause lies in working long years under suppressed wages, attributed to a questionable alliance between major corporations and the government. This evaluation spread across various administrations, including the current coalition government.
Failure of Promised Reforms
Despite reform promises, only so little has been done to lift up the financial burdens of the B40 and M40 communities. The Human Resource Ministry, responsible for labor-related policies, appears to lack effective strategies for improving the living standards of the working class.
Concerns over the Neoliberal Agenda
This criticism has also been directed at the ministry’s adoption of a neoliberal agenda, which prioritizes market forces over social welfare. This argument will only widen the gap between the wealthy and the rest of society, leading to long-term consequences.
Disillusionment among Advocates for Change
Many who had hoped for change with new administrations feel disillusioned by the lack of meaningful corrections in the system. This sentiment shows a big disappointment among those who have long advocated for social justice and equity.
Hope for Future Change
Despite these setbacks,there remains a belief that the voice of the working class cannot be ignored forever. History may not repeat itself, but it certainly echoes the demands for change.
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