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Govt pledges to break stagnant wage with progressive wage policy — PM

Publish date: Wed, 22 May 2024, 09:00 AM

KUALA LUMPUR (May 21): Prime Minister Datuk Seri Anwar Ibrahim on Tuesday said that the government is taking it seriously to develop the progressive wage policy (PWP) to address the issue of low wages, especially among the younger generation and graduates.

“As I stated previously, we have been trapped in a dangerous economic cycle; higher costs [of living], low wages, low profits and reduce in competitiveness,” Anwar said in his special address broadcasted on Tuesday night.

He said the government’s task is now to enhance the business ecosystem, which will be prioritising the high-growth and high-value (HGHV) sectors to attract more investment into the country's economy.

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“The business ecosystem is being expanded and improved, particularly in the electrical and electronics (E&E) cluster in the northern region and the development of the Johor-Singapore Special Economic Zone in Johor, as well as in Kerian, Perak,” he noted.

Last Thursday, the Ministry of Human Resources (MOHR) announced the voluntary PWP pilot project which is set to run from June to August this year, with an allocation of RM50 million and the participation of up to 1,000 employers.

The pilot project will encompass five key sectors comprising construction, manufacturing, wholesale and retail trade (including motor vehicle and motorcycle repair), information and communication, and professional, scientific, and technical activities.

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