MOF Sets Aside RM1.7 Billion For MyStep Job Creation Program

The Ministry of Finance has allocated RM1.7 billion for the Malaysia Short Term Employment Programme with the target of creating 80,000 jobs this year.

This was announced by the Finance Minister Tengku Zafrul, during the launch of JaminKerja initiative, a short-term contract employment programme in the public sector and government-linked companies, and is managed by the National Economic Implementation and Strategic Coordination Agency under the MoF.

He added the government managed to secure jobs for more than 63,000 graduates in 2021, surpassing the target of 50,000, of which 66 per cent were placed in various government ministries and agencies, while 34 per cent in GLCs. According to the Minister, a total of 560,000 jobs were created in 2021 against the initial target of 500,000.

Meanwhile, Tengku Zafrul said according to the latest report published by the International Labour Organisation, the global unemployment rate is expected to remain at 207 million persons this year, compared to 186 million in 2019.

“If not addressed, it will deepen the income gap around the world, including in Malaysia where it will weaken the country’s economic, financial and social structure.

“In this regard, the government’s policies are aimed at avoiding long-term effects on the labour market, household income, and social cohesion.

“Budget 2022, which is aligned to the 12th Malaysia Plan, will put the country’s economy on a solid footing so that we can build a better and more resilient economy,” he said.

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