Budget 2024 initiatives will speed job growth, says Perkeso

KUALA LUMPUR: The six initiatives in Budget 2024 to be implemented by the Social Security Organisation (Perkeso) reflects the goverment’s determination to stimulate the creation of new jobs, says group chief executive officer Datuk Seri Dr Mohammed Azman Aziz Mohammed.

He said that the Career Building initiative, Employment Support, integration of target groups in the public sector and tax exemptions for hiring women workers are capable of boosting the country’s labour market.

He said this is in line with the direction outlined by the government which aims to create 1.34 million jobs throughout the 12th Malaysia Plan (12MP).

“Emphasis on skills improvement initiatives can equip workers in the informal and formal sectors to venture into new career opportunities. This network of employability is expected to exist in line with the economic transition to digitisation, renewable energy and green jobs,” he said in a statement on Sunday (Oct 15).

Meanwhile, Mohammed Azman said based on a review of the national MYFutureJobs portal, the total number of female job seekers for the period from January to Oct 6 was 198,751, including women who want to switch to a new job and those who are currently unemployed.

“With the Budget 2024 initiative as announced by Prime Minister Datuk Seri Anwar Ibrahim, it will be in line to further increase women workforce in the labour market with a targeted 60 per cent participation rate as planned in the Madani Economic Framework,” he said.

Touching on the component of strengthening the social protection network, Mohammed Azman said the government’s current emphasis is on the care economy sector and the self-employed, especially gig industry workers.

“I hope that all gig platform providers welcome and pay attention to the recommendations of the prime minister and the minister of Human Resources in increasing social security protection by taking the initiative to bear the remaining 10 per cent of contribution from gig workers for their welfare,” he said.

Mohammed Azman then added that the government’s move to raise the insured salary ceiling to RM6,000 from RM5,000 previously is coincidental because it will increase cash benefits by 20.2 per cent for the benefit of 1.45 million workers and their dependents, thus protecting the welfare of the people.

Mohammed Azman in the same statement said more housewives in low-income and hardcore poor families could be protected through a 150 per cent increase in the allocation for the Housewives Social Security Scheme (SKSSR) to RM50 million.

“Based on the e-Kasih database as of August 2023, we have more than 500,000 housewives who qualify for the SKSSR Contribution Grant, with 166,666 already registered to this scheme,” he said.

As for the gig economy, Azman said the decision to increase the contribution matching grant to 90 per cent (previously 80 per cent) will increase the disposable income of 477,281 individuals.

The presentation of Budget 2024 on Friday (Oct 13) saw the Federal Government allocating more than RM200 million to PERKESO to lead the implementation of initiatives including strengthening the social protection network and boosting the national labour market. – BK