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Malaysian manufacturers submit wishlists to finance and trade ministries on business sustainability

FMM In The News: MALAY MAIL, KUALA LUMPUR, Thursday, March 18, 2021 - The Federation of Malaysian Manufacturers (FMM) has recently submitted 10 wishlists that emphasise on moratorium assistance, wage subsidy and employment incentives to the Ministry of Finance (MoF) and Ministry of International Trade and Industry (MITI).

President Tan Sri Soh Thian Lai said the wishlists will indirectly have an impact on manufacturing business sustainability.

The wishlists, 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 or Pemerkasa, along with a new fiscal injection by the government amounting to RM11 billion.

“For the wellbeing of all and the economy as a whole, the FMM also fully supports the National Covid-19 Immunisation Programme and continues 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 government and its key agencies at federal, state and local levels. — Bernama

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