KUALA LUMPUR – The government may consider consolidating its direct cash assistance for Malaysians after Budget 2021, said Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
He said the government is in discussion with stakeholders, including the Social Security Organisation (Socso) on improvements to the wage subsidy programme, taking into consideration the wage gap in Malaysia.
“For instance, the employment insurance system is for Socso. At the same time, the wage subsidy programme is from the government and based on targeted approach to selected sectors,” he said at the Malaysian Economic Summit 2020 today.
The session was moderated by Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar.
Tengku Zafrul was responding to a question whether the government will consider steps to consolidate the existing direct crisis response programme, especially the Penjana handout, wages, and disbursement scheme into an automatic stabiliser, like other countries.
The consolidation is expected to soften the impact after loss of income and bolster public confidence.
It will also streamline the administration across a multitude of social safety nets.
The government has extended the wage subsidy programme for another three months until December to help sustain businesses and safeguard employment, as well as to assist recovery in the second half of the year.
This comes in the face of lower projected domestic and export sales.
Under the Prihatin supplementary package, the government allocated another RM2.4 billion for the wage subsidy programme extension. – Bernama, October 12, 2020
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