To prevent the abuse of the EPF withdrawal for PC purchases scheme, some simple, overlooked points are:

1) Informing applicants of the penalty/consequences of not purchasing a PC upon obtaining the withdrawal.

I am sure that most people are ignorant of the fine and jail term imposed. Not a single billboard or poster indicating this is plastered in EPF and Pos Malaysia offices. I came to be aware of the penalty when it was highlighted in the newspapers a few days ago.

2) Verifying the company that issued the quotation for the EPF withdrawals. There are pisang goreng sellers, unemployed personnel and so forth using the letterheads of fictitious computer or dotcom companies to collect deposits as low as RM20 per copy issued out to the applicant.

3) Binding the PC retailer and applicant to the agreement to sell/purchase a PC. If the warrant allowing for the withdrawal is issued under the name of the applicant, it will not bind the PC retailer and the applicant to the transaction.

The PC retailer is actually at the mercy of the applicant. PC retailers are left with no alternative but collect deposit upfront. This actually helps to counter fraudulent withdrawals as it ensures that the applicant will come back to purchase the PC once obtaining the EPF money.

As a representative of PC retailers, I must say that we are strongly against the practice of EPF members abusing the scheme. Without genuine sales, we might as well close shop.

Looking at all that has transpired, one is liable to conclude that it is all a pre-planned 'game' to enrich certain quarters. How is the PC industry to be developed further if only a few giants bag the industry's sales?

It is also very sickening to have with us the 'giant' company right here protected by our own government that, despite the vast resources at its disposal, cannot prevent manipulation of the EPF withdrawal scheme.

Instead, the government is encouraging monopoly in an industry which affects the future of the whole nation.

A bused Penang