Malaysia's Economic Affairs Minister, Rafizi Ramli, has announced the upcoming presentation of a white paper on the progressive wage policy during the next Dewan Rakyat session. This policy aims to boost employee compensation in the country's GDP to 45% within a decade, up from the current 32%. Employers will receive cash incentives for raising wages, contingent on proof of compliance. These incentives, mainly for micro, small, and medium enterprises, will be distributed fairly and without straining the government's finances. (Source: The Sun Daily / 26 September 2023)
White Paper On Progressive Wage Policy To Be Presented In Next Parliament Session
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
