News: Malaysian budget 2019 gives RM 1 billion in special payments


Malaysian budget 2019 gives RM 1 billion in special payments

The Malaysian Budget 2019 provides for special payments for civil servants, uniform minimum wage and additional funds for the Malaysian Anti-Corruption Commission (MACC).
Malaysian budget 2019 gives RM 1 billion in special payments

As per the Malaysian Budget 2019, the Finance Minister Lim Guan Eng has proposed a special payment of RM500 for civil servants who fall under Grade 54 and below and a payment of RM250 to government pensioners.

The total amount to be allocated for special payments for civil servants would be about RM 1 Bn and these payments will be processed by the end of 2018.

According to the country’s finance minister, these payments will be made to recognize and appreciate the civil servants’ dedication towards their service and fulfilling their tasks.

The minimum wage will be raised to RM 1,100 from January 2019, according to the proposed budget. Another aspect of the Malaysian workforce that the new budget caters to the EPF of employees over the age of 60. In order to motivate Malaysians over 60 to participate in the workforce for longer, the EPF contribution from the employee will be 4 percent instead of the previously existing 6 percent from the start of the new year.

As compared to the previous year’s financial plan, Budget 2019 will set aside RM 286.8 Mn for Malaysian Anti-Corruption Commission (MACC) that is a 19.5 percent increase from the previous year’s RM 242.1 Mn.

About 100 additional employees will be added to the MACC in order to boost the Malaysian effort to prevent money laundering and corruption. The anti-corruption movement will target both the public and private sectors and concentrate on recovering assets.

The Malaysian government is also enabling non-profit organizations to take up the mantle to discharge some functions that have been the administration’s responsibility. Other welfare oriented initiatives include joint-ventures with NGOs such as developing a family-based care system for children from orphanages.

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Topics: Recruitment, #GlobalPerspective

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