The retiremend fund says the proposal is still being refined.

The prime minister says most contributors have 'too little' in way of savings to allow for another round of withdrawals.

Instead of allowing workers to withdraw more and more of their savings, the government should set up a fund to give financial aid to those who are truly in need.

A total of 6.62 million members or 52% of the total of 12.78 million members aged under 55 had savings of less than RM10,000 as of end-June.

Deputy governor Jessica Chew meanwhile says such measures should be used 'very sparingly'.

Prime Minister Ismail Sabri Yaakob advises the public to only use the facility as a last resort.

While opposition leaders Anwar Ibrahim and Lim Guan Eng have joined the chorus in favour of further EPF withdrawals, economists maintain that this would be a bad move.

The Malay Chamber of Commerce says more withdrawals are unrealistic and an exploitation of the people's hardships.

A majority of those who made withdrawals under the various schemes during the Covid-19 crisis are Bumiputera, it says.

The Malaysian Employers Federation says the government needs to think of other ways of helping the people amid concerns of old-age poverty.

This will continue until the total amount withdrawn has been replenished.

They say Malaysians are stuck in a 'survival trap' where the aim is simply to weather the pandemic and its effects on the economy.