THE recent hike in foreign workers’ levy by 100% in the manufacturing sector has for once received united opposition from all trade associations and industry organisations. As much as the intent is understandable, the timing has been unfortunate, to say the least.
Businesses are reeling from the economic slowdown as retail demand is reported to have dropped by between 20% and 30%. Raw material prices have already shot up due to the weakened ringgit and the rise in prices of domestic inputs.
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