Wage subsidies of RM20.63 billion disbursed in Malaysia

To preserve 2.96 million local jobs, the government has disbursed RM20.63 billion (US$4.9 billion) in wages subsidies as of March 18 this year.
By: | April 5, 2022
Topics: Compensation and Benefits | Health and Wellness | Malaysia | News

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the government’s Wage Subsidy Programme 1.0 (PSU 1.0) benefited 322,177 employers and 2.64 million workers from the PRIHATIN economic stimulus package and the National Recovery Plan (PENJANA), where wage subsidy applications approved hit RM12.96 billion (US$3.07 billion) up till March 18, 2022.

Up till March 18 this year, under PSU 2.0, a total of RM1.407 billion (US$334 million) had been disbursed to 81,132 employers, helping to maintain the employment of 718,195 workers; while under PSU 3.0, RM3.728 billion (US$885 million) was disbursed to 162,255 employers, helping to sustain 1.53 million jobs.

“PSU 3.0 has been improved with the PERMAI, PEMERKASA and PEMERKASA+ economic aid packages,” the finance minister said in the recently issued People’s Financial Report.

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The government implemented PSU 4.0 under the PEMULIH plan, allocating RM3.8 billion (US$902 million), which is expected to benefit 2.5 million workers.  Up till March 18, 2022, RM2.465 billion (US$585 million) has been disbursed to 159,326 employers to sustain their operations, helping to maintain 1.87 million jobs.

Under PSU 5.0, a total of RM71.995 million (US$17.1 million) was disbursed to 3,681 employers up to March 18, 2022, helping to maintain 61,772 workers, according to The Edge Markets.