MEF: RM1,500 new minimum wage would derail economic recovery

[superadmin]

KUALA LUMPUR, Feb 6 — The Malaysian Employers Federation (MEF) reiterated that now is not the right time to increase the cost of doing business and the proposed RM1,500 new minimum wage implementation would derail economic recovery.

President Datuk Syed Hussain Syed Husman said the majority of Malaysian businesses are not ready and not in a position to implement the proposed new minimum wage as they are still reeling from the economic shock brought about by Covid-19 and the devastating impact of the recent major floods.

“More efforts should be directed towards business recovery in the private sector and controlling the rising cost of products and services. We must remember that most Malaysian businesses are micro, small and medium enterprises (MSMEs), whereby 98.9 per cent are in this group.

“So, when we talk about wages and cost, we must think of their survival and sustainability,” he said in a statement today.

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