Malaysia plans to raise monthly minimum wage in 2020
The monthly minimum wage in Malaysia will be raised to 1,200 RM (290 USD), starting January 2020, in order to improve the people’s living standards.
Illustrative image (Source: https://www.theedgemarkets.com)Kuala Lumpur (VNA) - The monthly minimum wage in Malaysia will be raised to 1,200 RM (290 USD), starting January 2020, in order to improve the people’s living standards.
Malaysian Finance Minister Lim Guan Eng made the announcement when tabling the country’s Budget 2020 at the Parliament on October 11.
Lim stressed that the Pakatan Harapan (PH)-led government will also make compulsory overtime pay for workers who earn 4,000 RM per month and below.
Malaysia has applied a minimum wage of 1,100 RM per month since January 2019.
Lim said the government will also review the Employment Act 1955 in order to increase maternity leave from 60 days to 90 days effective in 2021, and extend the eligibility to overtime from those earning less 2,000 RM to those earning less than 4,000 RM per month.
The Budget 2020 is one of the key issues discussed during the 3rd session of the ongoing 14th Parliament sitting, which opened on October 7.
It is expected to reflect the Shared Prosperity Vision 2030, which was proposed by the government, with the aim of restructuring the national economy and abridging between the rich and the poor.
Public opinion in Malaysia said that the 2020 Budget is the hinge for the Malaysian government, towards the goal of re-establishing the national budget stability in 2022, after receiving the budget with a huge debt of up to 250 million USD from the predecessor government./.
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