Civil servants’ pay hike a boon for the economy, say experts

Civil Servants News

Civil servants’ pay hike a boon for the economy, say experts
Pay IncreaseEconomy
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KUALA LUMPUR: An economic multiplier effect can be expected from the rise in civil servants ’ wages through the updated Public Service Remuneration System , say industry stakeholders across various sectors.

“With the civil servants having more money to spend, it could boost consumer demand, leading businesses to increase production to meet this demand. This, in turn, can potentially create more jobs and spur economic growth. “Businesses would also look for increased accountability and transparency in government processes, reducing the potential for corruption and bureaucratic red tape,” he added.

“Malaysians have a high propensity towards investing in properties and having a roof over their heads.“We can confidently say the property market will get a boost in its performance,” said the corporate strategic advisor for IQI Realty, a leading real estate agency in the nation.

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