Malaysia disburses RM21 billion in wage subsidies

The government’s third tranche of wage subsidy programme has helped keep 1.53 million workers in employment.
By: | July 19, 2022
Topics: Compensation and Benefits | Malaysia | News

Malaysia has disbursed some RM21 billion (US$4.72 billion) of wage subsidies through its Wage Subsidy Programme (PSU) to 357,895 employers up till July 1, which is helping to support 2.96 million local workers in employment.

Under PSU 1.0, a total of 322,177 employers and 2.64 million workers have benefitted from the Prihatin Rakyat Economic Stimulus Package and the National Recovery Plan (PENJANA). As of July 1, wage subsidy applications worth RM12.96 billion (US$2.9 billion) have been approved under PSU 1.0. 

Under PSU 2.0, a total of RM1.41 billion (US$0.32 billion) has been disbursed to 81,158 employers, helping keep 719,024 workers in employment.

Meanwhile, under PSU 3.0, some 162,307 employers have received RM3.77 billion (US$0.85 billion, which supported 1.53 million workers in employment. 

“PSU 3.0 has been improved with the PERMAI, PEMERKASA, and PEMERKASA+ economic aid packages,” said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz, according to Bernama.

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The Malaysia Short-term Employment Programme (MySTEP) has also successfully placed 33,456 candidates in the public sector and government-linked companies, said the minister.