New wage incentives, subsidies targeting youth and tourism sector
BUDGET 2022 | The government has announced several improvements and enhancements to wage incentives and subsidies targeted at youth and the tourism sector under Budget 2022.
Finance Minister Tengku Zafrul Abdul Aziz said the government will provide an incentive of RM900 a month for a period of six months to employers who employ graduates aged between 18 and 30...
BUDGET 2022 | The government has announced several improvements and enhancements to wage incentives and subsidies targeted at youth and the tourism sector under Budget 2022.
Finance Minister Tengku Zafrul Abdul Aziz said the government will provide an incentive of RM900 a month for a period of six months to employers who employ graduates aged between 18 and 30.
This is an increase compared to the RM800 previously, he added.
“The youth will determine the rise and fall of this country. Exposure to the world of employment is very important for them to face the real world that is becoming more challenging,” Tengku Zafrul said while tabling Budget 2022 in the Dewan Rakyat today.
He noted that the government has been providing an allowance of RM900 to students undergoing industry training programmes.
As such, he called upon the private sector to follow in the government’s footsteps and pay their interns at least RM900 as well.
RM1.6b for tourism sector
Aside from that, the government has allocated RM1.6 billion allocation for some initiatives meant to help those in the tourism sector.
The tourism sector was one of the worst affected industries due to the Covid-19 pandemic.
Among the initiatives targeted at the tourism sector is a wage subsidy programme (PSU) meant for tourism industry players, Tengku Zafrul said.
Tourism operators who experienced a decline in revenue of at least 30 percent will be eligible for this PSU.
“With an allocation of RM600 million, this initiative will benefit more than 26,000 employers and 330,000 employees,” he added.
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