Malaysia

MyEzCover to provide Malaysians interest-free insurance financing: PM

Govt employees to get it before private sector, says Datuk Seri Ismail Sabri Yaakob

Updated 4 years ago · Published on 01 May 2022 1:14PM

MyEzCover to provide Malaysians interest-free insurance financing: PM
Datuk Seri Ismail Sabri Yaakob says the government is working on establishing a comprehensive mechanism to reduce employers’ dependence on foreign labour and prioritise local workers. – Bernama pic, May 1, 2022

by Qistina Nadia Dzulqarnain

KUALA LUMPUR – In the spirit of appreciating the efforts of labourers nationwide, the government has introduced MyEzCover, a family vehicle insurance financing programme which will be available from today. 

The programme is a financing package through which instalments can be made for up to 10 months without any interest charges, Prime Minister Datuk Seri Ismail Sabri Yaakob said during his Labour Day address today. 

“The programme is being offered to government employees first before being expanded to include workers from the private sector,” he said. 

He added that the programme will be implemented by the Human Resources Ministry in collaboration with the Social Security Organisation (Socso) and Angkatan Koperasi Kebangsaan Malaysia Bhd. 

Similarly, the government is targeting to provide insurance coverage for at least one million self-employed workers through the Self-Employment Social Security Scheme under Socso. 

“Under the programme, the government will bear as much as 80% of the amount to be contributed by the individual involved,” he said. 

Ismail Sabri also said that the government is working on establishing a comprehensive mechanism to reduce employers’ dependence on foreign labour and prioritise local workers. 

Noting how the reopening of the nation’s borders had allowed employers, especially those from 3D (dirty, dangerous, difficult) sectors, to bring in foreign labourers, he said that the ministry will be looking into how local workers can similarly benefit by advancing their careers and improving their pay rates. 

He added that Putrajaya’s decision to ratify Protocol 29 of the International Labour Organisation is evidence of the government’s commitment to eliminating forced labour in the country. 

“This ratification is a proactive move to ensure that Malaysian products are no longer restricted from entering international markets for allegedly using forced labour during production of goods,” he said. 

Besides, he said that part of the government’s stand on defending the rights of workers includes encouraging employees to actively participate in trade unions.

“The Trade Union Act 1959 is being amended and went through its first reading in the Dewan Rakyat on March 24,” he said. – The Vibes, May 1, 2022

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