However, he said the matter was still under discussion with the parties involved, especially the Employees Provident Fund (EPF).

“After the negotiations are over, we have to wait a few more days for myself and the EPF to announce the effort to extend the benefit to more than 600,000 people. We will also explain why we are doing so,” he said in a press conference at Wisma Bernama today.

Tengku Zafrul had announced in his budget speech on Nov 6 that certain target groups would be allowed to withdraw RM500 a month for up to a year from Account 1 of their EPF savings to help alleviate their financial burden.

In April, the EPF introduced the i-Lestari scheme which allowed contributors to withdraw RM500 per month for a period of 12 months, benefiting about 4.7 million people, and involving funds worth RM11.6 billion.

Asked whether it was possible that the Dewan Rakyat may not approve the 2021 federal budget, Tengku Zafrul said he was optimistic that the budget would be approved.

“For me, if this budget can help our country, then there is no reason for it not to be approved, and rejected (in the Dewan Rakyat). If it’s rejected, in terms of the economy, we will not be able to fund the government’s commitments, including disbursing aid to the people,” he said.