KUALA LUMPUR: An economic resilience package worth more than RM710mil will be implemented to ensure the country is prepared for crises that could lead to unemployment, says Prime Minister Datuk Seri Anwar Ibrahim.
The package is called the Progressive Acceleration for Capability and Employment.
"Although the labour market remains strong, we must not be complacent and need to remain proactive and prepared," he said during the Labour Day celebration on Thursday (May 1).
"Especially in this era of rapidly changing technology, we must help workers stay competitive, and for those who may lose their jobs, provide retraining with new skills aligned with current industry demands and needs," he said.
Anwar said the package is part of the economic resilience strategy, with positive implications for human capital development and labour market stability.
He said it will be implemented through four initiatives, starting with social protection preparedness.
"Employment Insurance System benefits will be strengthened where the Human Resources Ministry, through Perkeso, has prepared a fund exceeding RM580mil," he said.
The second initiative will focus on training and job placement empowerment to ensure youths and vulnerable groups remain competitive and productive.
He said the government, through HRD Corp, has allocated RM100mil under the HRD Yakin Madani programme, supported by MyFutureJobs to facilitate job placements.
Anwar said another initiative involves empowering gig workers.
"To diversify skills and strengthen social security protection for gig workers, the government has channelled RM20mil to the Skills Development Fund Corporation, specifically for gig worker training," he said.
He said the fourth initiative is an industrial training matching grant to support micro, small and medium enterprises and startups that take on industrial trainees.
"This initiative will be funded by TalentCorp with an allocation of RM10mil," he said.
