Malaysia helps more than two million workers stay employed

The government has distributed RM19.21 billion (US$4.6 billion) under its Wages Subsidy Programme (PSU) as of October 29.
By: | November 22, 2021

The wage subsidies were channeled to 356,193 employers to ensure that 2.94 million local workers stay employed.

Finance minister Tengku Datuk Seri Zafrul Abdul Aziz said RM3.319 billion (US$793.0 million) was disbursed under PSU 3.0 to ensure 1.511 million workers remained employed, while RM1.542 billion (US$368.5 million) was channeled to 119,904 employers so they could continue to operate and retain 1.424 million workers under the latest phase of the programme, PSU 4.0.

“Through PSU 4.0, the government would support up to 500 employees for each employer by subsidising RM600 (US$143.4) per worker for four months (from August 1, 2021).

“The salary limit of RM4,000 (US$955.8) was also relaxed to enable employers to apply for PSU 4.0 for workers earning more than RM4,000,” he said in the 76th Implementation and Coordination Unit Between National Agencies (LAKSANA) report.

On the Danajamin PRIHATIN Guarantee Scheme (DPGS), the minister said that as of October 29, 87 companies had submitted applications, and a total of RM2.035 billion (US$486.3 million) in guarantees benefiting 57 companies had been approved.

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Another RM88.6 million (US$21.2 million) had been channeled to 13,889 businesses in the form of grants and loans under the National Economic Recovery Plan (PENJANA) for subscription to digitalisation services, according to The Edge Markets.