Malaysia approved RM12.76 billion in wage subsidies as of end January
The Malaysian government has so far approved a total of RM12.76 billion (US$3.17 billion) for its wage subsidy programme, or WSP 1.0, as of January 29, said Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz.
Under the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) and the National Economic Recovery Plan (PENJANA), a total of 22,177 employers and 2.64 million employees have received wage subsidy benefits, the minister said.
Under WSP2.0, some RM741.16 million (US$183.91 million) has helped 64,345 businesses, allowing them to continue operations and sustain hiring of 518,793 employees, noted the minister at the report of the 40th Implementation and Coordination Unit Between National Agencies (LAKSANA) report.
The National Employment Council also estimates that over 160,000 new jobs will be created this year through committed investments, he added.
“It is hoped that through the joint efforts of all parties involved, the unemployment rate of 4.8% recorded at end-December 2020 can be reduced in the coming months, especially with the government’s ongoing efforts,” he noted, pointing to initiatives such as the MyFutureJobs portal and Human Resources’ e-LATiH platform, which provides free training courses to Malaysians.