White paper on progressive wage policy to be tabled in next Parliament sitting - Rafizi
KUALA LUMPUR - The white paper on the progressive wage policy will be tabled at the next Dewan Rakyat sitting, said Economy Minister Rafizi Ramli.
He said the implementation mechanism of the policy would also be detailed to get involvement and suggestions from all stakeholders, not only members of the Dewan Rakyat and Dewan Negara, but also the people and employers.
"This is a really challenging matter and we need to plan properly in order to begin establishing a salary policy framework that will assist us in meeting the target of increasing employees’ compensation share to GDP (gross domestic product) by 45 per cent within ten years.
"We (the share of wages to GDP) are currently at only 32 per cent,” he said when winding up the debate on the 12th Malaysia Plan mid-term review for his ministry in the Dewan Negara today.
Rafizi expressed concern and said that if such policy is not implemented, the people will not be able to enjoy the economic spillovers.
"Prime Minister Datuk Seri Anwar Ibrahim has set a target of 45 per cent for us to reach within ten years, and one of the most important ways to achieve this is to implement a progressive salary policy,” he said. - BERNAMA
