The Malaysian Rating Corporation Bhd said the Madani framework is timely from an economic perspective.
It said from the economic perspective, the Madani framework is timely in view of the upcoming Budget 2024, the New Industrial Master Plan and the expected tabling of the Fiscal Responsibility Act this year.As a signal of policy consistency, the theme"Empowering the People” maintains the government’s momentum towards human capital development in Malaysia.
Commendably, measurable goals in this respect include being in the top 25 in the Human Development Index, increasing the labour share of income to over 40% and increasing the participation rate of the female labour force to 60%."The government expects to continue strengthening basic education and promote lifelong learning, and developing human capital will further reinforce the government’s goal to improve the social safety net,” it said.
"Samenta has been saying for a while that the biggest challenge for SMEs is not weak cash flow or the lack of business opportunity, but low margins as a result of lagging labour productivity. Nevertheless, he said SMEs are wary of the planned progressive wage model and hope that a high-powered Future of Work Committee is established with representatives from the private and public sectors to unlock the economic dividend for more Malaysians.
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