Youth-friendly 'Madani budget' a respite to those plagued by bankruptcy
KUALA LUMPUR - The government’s initiative to create more jobs and reduce the bankruptcy rate through the Budget 2023 is a great move in boosting the quality of life for youth.
Universiti Putra Malaysia (UPM) Co-curiculum and Student Development Centre deputy director Noor Mohamad Shakil Hameed said the 'Madani Budget' seemed to be youth-friendly and they should take the chance offered to build their careers and create a good future for themselves.
"The Tvet field must become the future career of interest in the country. Tvet graduates skilled in various fields need to be matched with suitable jobs as highly-skilled workers or professionals with matching salaries.
"Therefore, over 35,000 jobs offered, especially in GLCs (government-linked companies) will boost the spirits of all Tvet graduates and provide encouragement to other youth to go into Tvet as there are better career opportunities in this field,” he said.
He added that the government’s effort to reduce the number of youth bankrupts with debts of less than RM50,000, along with the Menu Rahmah initiative under the Budget 2023 have brought a ray of hope to those just starting on their career path.
Prime Minister Datuk Seri Anwar Ibrahim had announced 35,000 jobs at GLCs that will be offered to youth, Tvet graduates and armed forces veterans, along with an allocation of RM40 million to benefit the over 30,000 people involved in the gig economy.
Meanwhile, Belia Prihatin Club president Luqman Hakim Md Zim shared his view that the government needs to focus on information delivery efforts so that government initiatives in providing jobs for youths could be implemented effectively and inclusively.
Even though such initiatives have been announced and implemented before in previous budgets, there are still some who do not know about them and the opportunities provided.
"Also, key institutions such as High National Youth Skill Training Institute need to reach out to students who didn’t do so well in their Sijil Pelajaran Malaysia (SPM) exams to inform them they can further their studies there instead of private colleges or institutions,” he said.
Meanwhile, e-hailing driver, Farzan Mat Daud said that he, along with other youth, B40 and hardcore poor are now enjoying the benefits of the Menu Rahmah initiative as they are able to reduce their expenses and daily cost of living.
The government’s move to amend the Insolvency Act 1967 so that bankruptcy cases can be automatically released in a short period has been hailed as offering a second chance to bankrupts.
Perak Malaysian Association of Youth Clubs (MAYC) chairman Muhammad Naim Al-Amin Saharudin said that allowing with debts of less than RM50,000 avoid being labelled as bankrupts would help them from the desperate situation they find themselves in that ultimately would set their entire lives back.
"MAYC Perak welcomes and thanks the government for its concern in looking after those who are bankrupt, especially youths.
"Previously, bankrupts often seem not to have any future and would continue to be in a situation where they are incapable of rising back up again to contribute to the national economy,” he said when contacted.
The prime minister said during the presentation of the Budget 2023 that around 130,000 individuals will be free from bankruptcy with the successful amendment of the Act.
Muhammad Naim said they also welcomed the reduction in tax rates, from 17 per cent to 15 per cent, for micro, small, and medium enterprises as many operators who were affected by the Covid-19 pandemic will now be able to focus on shoring up their businesses. - BERNAMA
