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Ministers in Malaysia’s new government began their first day at work today (22 May), having promised a slew of economic and financial reforms in the lead up to the election win – as reported in The Straits Times.
According to the report, prime minister Tun Dr. Mahathir Mohamad’s government has vowed to fulfil some of those promises in its first 100 days. When it comes to the workforce in Malaysia, some of the key reforms include:
- Introducing the Employee Provident Fund (EPF) contribution schemes for housewives.
- Equalising the minimum wage to RM1,500 ($505.61) a month for the whole country, and to review the rate every two years. To reduce cost pressure on employers, the government will bear half the cost of raising salaries.
- Introducing a healthcare scheme which allocates RM 500 a year for the low income group to receive basic healthcare in registered private clinics.
- Reviewing the tax systems to make income and corporate tax rates competitive compared with other Asean countries. Tax rates for companies, small businesses and part-time workers will also be reviewed.
- Reducing the number of foreign workers from six million to four million; will validate the status of United Nations High Commissioner for Refugees (UNHCR) card holders as refugees to allow them to work in Malaysia and reduce the country’s dependency on foreign workers.
In a separate report by Bernama, deputy prime minister Datuk Seri Dr Wan Azizah Wan Ismail said the government will be setting up a task force to implement Pakatan Harapan’s (PH) election manifesto promises that are to be delivered within 100 days. Speaking at a press conference, she said: “The welfare of senior citizens and EPF contribution for housewives also heads the list of priorities.”
Photo / 123RF