Tuesday, November 11, 2008


I am too much of a vintage for any kind of Singapore styled National Service. In this respect, I salute our youths for their sacrifices as they undergo the character toughening NS duty at such tender ages.

There is however an opportunity that I recognise as a form of "National Service". Sacrifice personal savings for 2 short years by obliging the Government's call to help boost the national economy.

The Government has decreed that EPF contributions are to be automatically reduced by 3% starting from Jan 2009 for 2 years. Those who wish to opt-out will have to write in. BTW, this has the support of the Opposition too, as reported by one local paper.

I, for one, will let the auto-reduction take place and I will do my part in this "National Service" by spending instead of saving the extra 3%. Personally, it may be a small amount, but if every working person in the country heeds the call - the collective impact will be very substantial.

The Government needs our help to make the stimulus package work. They need each one of us to create as many economic activities as possible to give the laggard economy a big push. It just cannot be any easier for anyone of us - we already know how to - "belanja saja"!

I however would prefer that we deploy the extra cash only in sensible economic transactions that will benefit those who will NOT remit their earnings out of our country - thus preventing further losses in foreign exchange . We must patronise trades, consumer services and businesses which keep their profits and grow their capital domestically.

This easy-to-perform special duty is only for 2 years, hopefully.

"Bersama-sama" we may just do enough to save the country and thus save ourselves. We will be better poised to ride through the economic turbulence with more resilience and steadfastness, while a new wave of hope sweeps the entire globe - led by China and the new Obama Administration.

Malaysia Boleh!

P/s Local Treasure Hunts Are Healthy Economic Activities! Jom!

No comments: