The minimum wage for Malaysian employees is expected to be officially raised to RM1,500 per month by the year ends, according to Human Resources Minister Datuk Seri M Saravanan.
According to a report by Berita Harian, Saravanan said he is optimistic that the ministry will be able to realised it this year, but it needs to get approval from the Cabinet first.
“The study has also been completed. We already have the new minimum wage to be presented and approved by the Cabinet.”
“I cannot state the minimum wage rate proposed by the Ministry of Human Resources but it will be around RM1,500 and below,” he was quoted saying by Berita Harian.
As of now, the minimum wage sits at RM1,200 a month and it had been effect since Budget 2020.
Increasing the minimum wage of workers will also help them increase their Employees Provident Fund (EPF) savings so that they’ll be able to retire comfortably in the future.
Meanwhile, Saravanan acknowledges that Malaysia is slow in deciding on the matter, but he said that the ministry is doing what it can to expedite the process.
He also pointed out that while the government did not increase the minimum wage for some years now, but private companies took the the initiative to pay their employees a little more.
In addition, some were given extra perks and help such as lodging for workers and extra allowances depending on the employer.
With the cost of living rising quickly in Malaysia, do you think RM1,500 is sufficient? Share your thoughts!