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FMM submits wish lists to MoF, MITI on manufacturing business sustainability

FMM In the News: THE EDGE MARKETS, KUALA LUMPUR, Thursday, March 18, 2021: The Federation of Malaysian Manufacturers (FMM) has recently submitted 10 wish lists that emphasise moratorium assistance, wage subsidies and employment incentives to the Ministry of Finance (MoF) and Ministry of International Trade and Industry (MITI).

FMM president Tan Sri Soh Thian Lai said the wish lists would indirectly have a direct impact on manufacturing business sustainability.

The wish lists, among others, stipulate the continuation of the targeted loan moratorium assistance and further extension of the targeted wage subsidy under the Wage Subsidy Programme 3.0, which has been extended to June 2021 with an additional allocation of RM700 million.

In addition, the lists also propose enhancement of the SOCSO Penjana Kerjaya 2.0 employment incentives to include short-term employment by individuals and gig workers, additional allocation for the hiring incentive, and enhancement of the effectiveness of the Apprenticeship programme by extending the incentive period by an additional three months.

In another development, Soh said the industry welcomes the allocation of RM20 billion under the Strategic Programme to Empower the People and Economy (PEMERKASA), along with a new fiscal injection by the government amounting to RM11 billion.

“For the well-being of all and the economy as a whole, the FMM also fully supports the National Covid-19 Immunisation Programme and would continue to urge members to get all their employees, including foreign workers, to be registered for the vaccination,” he added.

The FMM has been the voice of the Malaysian manufacturing sector since 1968. Representing over 10,000 member companies (3,000 direct and 7,000 indirect) from the manufacturing supply chain, it is actively engaged with the government and its key agencies at the federal, state and local levels.

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