Budget 2023: 10 Initiatives On Encouraging Human Capital Development In Line With IR4.0 Presented By Ministry


The Ministry of Human Resources (KSM) has proposed 10 human capital-focused initiatives for the Finance Ministry’s consideration for Budget 2023.

In a recent Facebook post, Human Resources Minister Datuk Seri M. Saravanan said: “There is a need to focus on challenges the country will face through the Industrial Revolution 4.0 (IR4.0) — especially in producing competitive digital-ready human capital and talent.”

The Minister added the 10 points were based on the essence of IR4.0 measures, adding: “We focus on this challenge (IR 4.0). We need to create competitive capital in terms of ‘digital talent’. And, then we will focus on ‘reskilling’ and ‘upskilling’ (increasing skills).

Meanwhile, the ministry called for additional funds from the Finance Ministry to secure the welfare of housewives under the Social Security Organisation (Socso) in Budget 2023.

Saravanan added the initiative was in line with Prime Minister Datuk Seri Ismail Sabri Yaakob’s aspiration for the ministry, through Socso, to provide a safety net for housewives to protect and safeguard the welfare of the group.

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