KUALA LUMPUR: Businesses and employees are being fairly assisted through Budget 2023 to face the expected more difficult and challenging period in 2023, said the Malaysian Employers Federation (MEF) today.
MEF president Datuk Dr Syed Hussain Syed Husman said more could be done to support existing businesses to be revitalised and create more opportunities for businesses.
"It is important for the private sector businesses to be revitalised to enable them to be the engine of growth for the economy," he said in a statement yesterday.
Among measures for businesses under Budget 2023 are the allocation of RM20 million to benefit 3,000 trainers for National Dual Training System (SLDN) to encourage more trainees to undergo SLDN to meet the requirements of more skilled employees.
The small and medium enterprises (SMEs), which represent about 98 per cent of businesses, will be further assisted with RM9 billion through business financing guarantee companies to enable to SMEs to get financing.
Meanwhile, Bank Negara Malaysia will further assist the SMEs with RM10 billion for automation, digitalisation, tourism and agriculture and RM1 billion is granted to fund RM1,000 one-off grant for registered SMEs.
Syed Hussain said MEF was of the view that wages subsidy programmes as introduced in 2020, 2021 and 2022 be continued to assist employers to sustain employment of the employees and assist the country to stabilise the labour market.
"MEF hopes that in the event the situation in 2023 warrants the reintroduction of wages subsidies, the government should then assist the businesses with wages subsidies to avert possible mass layoffs," he added.
-- BERNAMA
Bernama
Sat Oct 08 2022
Businesses and employees are being fairly assisted through Budget 2023 to face the expected more difficult and challenging period in 2023, Malaysian Employers Federation (MEF) president Datuk Dr Syed Hussain Syed Husman said today. - MEF
COP29 climate summit draft proposes rich countries pay $250 billion per year
The draft finance deal criticised by both developed and developing nations.
Bomb squad sent to London's Gatwick Airport after terminal evacuation
This was following the discovery of a suspected prohibited item in luggage.
Kelantan urges caution amidst northeast monsoon rains
Kelantan has reminded the public in the state to refrain from outdoor activities with the arrival of the Northeast Monsoon season.
Former New Zealand PM Jacinda Ardern receives UN leadership award
Former New Zealand prime minister Jacinda Ardern was given a global leadership award by the United Nations Foundation.
ICC'S arrest warrants for Netanyahu, Gallant an apt decision - PM
The decision of the ICC to issue arrest warrants against Benjamin Netanyahu and Yoav Gallant is apt, said Datuk Seri Anwar Ibrahim.
KTMB provides two additional ETS trains for Christmas, school holidays
KTMB will provide two additional ETS trains for the KL Sentral-Padang Besar route and return trips in conjunction with the holidays.
BNM'S international reserves rise to USD118 bil as at Nov 15, 2024
Malaysia's international reserves rose to US$118.0 billion as at Nov 15, 2024, up from US$117.6 billion on Oct 30, 2024.
Findings by dark energy researchers back Einstein's conception of gravity
The findings announced are part of a years-long study of the history of the cosmos focusing upon dark energy.
NRES responds to Rimbawatch press release on COP29
The Ministry of Natural Resources and Environmental Sustainability (NRES) wishes to offer the following clarifications to the issues raised.
Online Safety Bill and Anti-Cyberbullying Laws must carefully balance rights and protections
The Online Safety Advocacy Group (OSAG) stands united with people in Malaysia in the fight against serious online harms.
Malaysia's inflation at 1.9 pct in Oct 2024 - DOSM
Malaysia's inflation rate for October 2024 has increased to 1.9 per cent, up from 1.8 per cent in September this year.
Saudi Arabia showcases Vision 2030 goals at Airshow China 2024
For the first time, Saudi Arabia is participating in the China International Aviation & Aerospace Exhibition held recently in Zhuhai.
King Charles' coronation cost GBP 71mil, govt accounts show
The coronation of Britain's King Charles cost taxpayers GBP72 million (US$90 million), official accounts have revealed.
Couple and associate charged with trafficking 51.9 kg of meth
A married couple and a man were charged in the Magistrate's Court here today with trafficking 51.974 kilogrammes of Methamphetamine.
PDRM to consult AGC in completing Teoh Beng Hock investigation
The police may seek new testimony from existing witnesses for additional insights into the investigation of Teoh Beng Hock's death.
Thai court rejects petition over ex-PM Thaksin's political influence
Thailand's Constitutional Court rejects a petition seeking to stop Thaksin Shinawatra from interfering in the running the Pheu Thai party.
Abidin takes oath of office as Sungai Bakap assemblyman
The State Assemblyman for Sungai Bakap, Abidin Ismail, was sworn in today at the State Assembly building, Lebuh Light.
UPNM cadet officer charged with injuring junior, stomping on him with spike boots
A cadet officer at UPNM pleaded not guilty to a charge of injuring his junior by stomping on the victim's stomach with spike boots.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
The indictment was unsealed on Nov. 20, prompting a $27 billion plunge in Adani Group companies' market value.
Elon Musk blasts Australia's planned ban on social media for children
Several countries have already vowed to curb social media use by children through legislation, but Australia's policy could become one of the most stringent.