Wage subsidies support employment of 2.95 million workers in Malaysia

As of February 18, a total of RM21.72 million has been channelled to 902 MSMEs under the Indian Community Entrepreneur Development Scheme.
By: | March 2, 2022
Topics: Compensation and Benefits | Health and Wellness | Malaysia | News

The Malaysian government has so far channelled a total of RM20.36 billion (US$4.86 billion) to 357,530 employers under the Wage Subsidy Programme, which helps support the employment of 2.95 million local workers.

“As at February 11, 2022, a total of 322,177 employers and 2.64 million employees have received the benefits from WSP under the Prihatin and National Economic Recovery Plan (Penjana) assistance,” said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, noting that “the approved application for the programme has reached RM12.96 billion”, reports The Malaysian Reserve. 

Under the Indian Community Entrepreneur Development Scheme (SPUMI), a total of RM21.72 million (US$5.18 million) has been channelled to 902 micro, small and medium entrepreneurs (MSMEs) as of February 18. 

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“Indian communities who want to venture into business and entrepreneurship as well as those who want to improve their existing business, the value of financing that is channelled is from RM1,000 to RM100,000 for each entrepreneur based on eligibility,” said the finance minister.