Economy minister Rafizi Ramli, seen here with his deputy Hanifah Hajar Taib, said the financial allocation should be included in Budget 2024.
KUALA LUMPUR: The progressive wage policy is targeted to roll out in either April or May next year, says economy minister Rafizi Ramli.
Rafizi said the target means that the necessary financial allocation should be included in Budget 2024, which is scheduled to be tabled in October.
“(Prime Minister Anwar Ibrahim) gave an indication of some numbers, but we’ll go through the budget process,” he told a press conference after an event at Asia School of Business here today.
Rafizi was asked to provide an update on the progressive wage policy and the allocations to implement it.
The minister also said the policy had been approved in terms of its overall approach, but it must go through consultations with stakeholders. Several details of the policy also needed to be addressed.
“We have to see at what level we want to come in. When I say ‘what level’, I mean at what coverage, at what specific groups and that obviously will translate to what kind of financial commitment the government has to make,” he said.
On Aug 7, Anwar said the government’s proposed progressive wage policy would be voluntary, incentive-based and productivity-linked.
Anwar had said the matter would be brought to the Cabinet for further deliberation on its gradual implementation and the funds needed for incentives following engagements with stakeholders.
Rafizi previously said employers had reacted positively to the government’s progressive wage policy.
In a separate development, Rafizi said he would be announcing the names of those appointed to the National Council of Digital Economy and the Fourth Industrial Revolution (MED4IR) tomorrow.
“It is the first time in history that the appointment of the highest level is crowd-sourced from the public,” he said, adding that they would be joining the prime minister for the first meeting on Monday.
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