National Employment Council has created 320,000 jobs, says Tengku Zafrul
KUALA LUMPUR (Aug 5): The government has helped create 320,000 jobs so far through the National Employment Council (NEC) initiative, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
He said in an effort to help the target groups find jobs, RM2 billion was allocated for the PenjanaKerjaya programme under Budget 2021, for which PenjanaKerjaya 2.0 had helped more than 141,000 people secured jobs.
“Meanwhile, PenjanaKerjaya 3.0 has been introduced under the People’s Well-being and Economic Recovery Package (PEMULIH), with several improvements incorporated.
Malaysian financial services institutions (FSIs) are very much at the forefront of hybrid multi-cloud solutions. According to Nutanix’s Enterprise Cloud Index (ECI) report, 64.7% of local FSIs are already in the process of developing a cloud strategy, compared with only 15% globally.
“Among them are reducing the salary eligibility limit under the Malaysianisation programme and easing the employment contract period for workers aged 50 and above, the disabled and ex-prisoners,” he said in the 64th Inter-Agencies Economic Stimulus Implementation and Coordination Unit (LAKSANA) report today.
The NEC was established with the target of creating 500,000 jobs and skills training placements through strategic collaboration between government agencies and industry players.
Tengku Zafrul said the government was also aware of the commitments facing small and medium enterprises (SMEs) and micro-entrepreneurs, such as bills, rent and employee salaries.
Hence, he said continuous assistance had been and is being implemented to ensure that they persevere and could bounce back.
“Among them is an allocation of almost RM20 billion for the Wage Subsidy Programme and so far RM15.6 billion has been channelled, benefiting more than 330,000 employers and preventing 2.8 million workers from losing their jobs.
“SMEs that experience a reduction in income due to Covid-19 will be given a wage subsidy of RM600 per month for each employee, limited to 500 employees,” he said.
Tengku Zafrul said starting from August, the wage subsidy will be detailed in the salary slip of each employee who receives the government wage subsidy.
On a question raised during the Dewan Rakyat session recently about whether the size of the aid package was sufficient, he said the government had introduced eight economic packages amounting to RM530 billion since last year, including the largest budget in the country’s history in Budget 2021 amounting to RM322.5 billion.
“Imagine that even though the country’s economy is in the worst crisis since World War II, the government is still committed and able to provide an overall aid package worth RM305 billion or 22.7% of gross domestic product (GDP).
“This is one of the largest rates compared to stimulus packages in other countries, such as Indonesia, South Korea and the US,” he said.
However, the key to the recovery, as well as success against Covid-19, hinges on the level of vaccination achieved, he added. -Source: The Edge Markets