Govt allocates RM20.107bil to 357,402 employers through PSU

  • Economy
  • Thursday, 13 Jan 2022

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz

KUALA LUMPUR: The government has channelled RM20.107 billion to 357,402 employers through the Wage Subsidy Programme (PSU) to maintain the employment of 2,951,245 local workers in an effort to reduce the unemployment rate among Malaysian workers.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government would continue the PSU initiative based on total sales or revenue in October 2021 until December 2021 compared to any month in 2019 until 2021 before the outbreak of COVID-19.

"Applications have been open since Jan 1, 2022 until March 31, 2022 but employers from sectors and industrial activities that are not listed but are still affected due to the spread of COVID-19 can still submit an appeal online to SOCSO.

"With an allocation of RM600 million, this initiative will benefit more than 26,000 employers and 330,000 employees," he said in the 81st Implementation and Coordination Unit Between National Agencies (LAKSANA) report released today.

For more information, visit

Through PSU 4.0, a total of RM2.148 billion has been channelled to 142,539 employers to continue operating and maintain employment for 1,698,999 employees as of Dec 31, 2021, said Tengku Zafrul.

The government through various ministries and government agencies will continue its training and skills upgrading efforts for 2022 with a total allocation of RM1.1 billion targeting 220,000 job opportunities.

Among the initiatives that will be implemented are training and skills upgrading under the Human Resource Development Centre (HRDC), Regional Corridor, Perbadanan Hal Ehwal Bekas Angkatan Tentera (PERHEBAT), Ministry of Higher Education, Polytechnic Education Department and Community Colleges and others, he said.

Meanwhile, the government has allocated RM600 million for micro, small and medium enterprises (MSMEs) that are still affected by the COVID-19 outbreak.

"As of Dec 31, there are 701 applications for this funding, and out of this total, 340 applications had been approved with a total funding of RM67.5 million," he said.

According to Bank Negara Malaysia, a total of RM400 million from the original RM1 billion fund was reallocated for the Disaster Relief Facility (DRF) to reduce the financial burden and restore business operations of SMEs affected by floods and the SME Automation and Digitalisation Facility (ADF) to provide incentives to SMEs to automate processes and digitalise operations to increase productivity and efficiency. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights


Next In Business News

RAM Ratings optimistic on digital bank licences in its rated portfolio
Maybulk's net profit falls to RM8.44mil in 1Q
Hap Seng posts higher net profit of RM156.30mil in 1Q
IJM Corp net profit jumps 82% to RM795mil in FY22
Cnergenz 1Q net profit at RM3.64mil
MSM posts RM28mil net loss in 1Q
Boustead 1Q profit soars 573% on land disposal
Ringgit gains momentum to end higher versus US dollar
Axiata appoints joint acting group CEOs as Izzaddin Idris steps down
Escalating costs a drag on Tuju Setia’s earnings

Others Also Read