KUALA LUMPUR – The government has approved RM12.72 billion for the Wage Subsidy Programme as of January 22, said Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
He also said that 322,177 employers and 2.64 million employees have received the wage programme benefits under the Prihatin Rakyat Economic Stimulus Package (Prihatin) and National Economic Recovery Plan (Penjana).
"Under the Prihatin Special Supplementary Initiative Framework, a total of RM729.12 million has been channelled to 63,718 employers to continue to operate and maintain employment for 511,566 employees under the Wage Subsidy Programme 2.0 as of January 22," said Tengku Zafrul in the 39th Implementation and Coordination Unit Between National Agencies (Laksana) report today.
He also stressed that the Malaysian economy is on track and this was supported by the confirmation of the Malaysian debt rating, which remains at the A3 level, by Moody's, showing confidence in the country's economic management efficiency during the crisis.
"It also shows confidence in the strength of fiscal discipline controls and the sustainable prospects of medium-term growth. For the ordinary people, it means that the government is still able to implement economic recovery programmes according to the planned schedule," he added.
Tengku Zafrul also said economic recovery would also create new jobs, with the government targeting 500,000 new jobs this year.
"Although we are experiencing a fiscal deficit, additional spending through economic stimulus packages in 2020 is proof that the government has always prioritised the well-being of the people," he said.
To date, these economic stimulus packages have benefited 20 million individuals and 2.4 million businesses, with more than 50% of the initiatives already channelled.
Of these, most include immediate and cash assistance, such as the Bantuan Prihatin Nasional, the Prihatin Special Grant, Wage Subsidy Programme and various other measures to protect the people and ensure business continuity, he said. – Bernama, February 4, 2021
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