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Prime Minister Datuk Seri Anwar Ibrahim (right) chairs the Malaysian Social Protection Council (MySPC) meeting in Putrajaya on May 30, 2024. — Picture via FACEBOOK/ANWAR IBRAHIM

National social insurance framework strengthening necessary for all — PM

KUALA LUMPUR, May 30 — The strengthening of the national social insurance framework is not only based on employment but also encompasses the overall development of individuals and the country, says Prime Minister Datuk Seri Anwar Ibrahim.

Chairing the Malaysian Social Protection Council (MySPC) meeting today, he said the initiative could shift the approach from welfare-based social assistance to risk protection according to Malaysians’ life cycle.

“InsyaAllah, the country’s social safety net can continue to be strengthened and expanded so that it is felt and enjoyed by the people who are entitled to it,” he said in a Facebook post.

The meeting discussed strategies to bolster social insurance programmes as Malaysia prepared to face the risks of becoming an ageing nation.

By 2030, the country is expected to move in that direction, potentially exposing a portion of the population, especially the elderly, to various risks.

Anwar highlighted issues like poverty, health and medical problems, lack of retirement savings, and a decline in labour productivity, which could have critical implications for the country’s fiscal prospects.

In a separate post, the Prime Minister said he also received a courtesy visit from a delegation from the Malay Chamber of Commerce Malaysia (DPMM) led by its president Norsyahrin Hamidon today.

During the meeting, he emphasised that Bumiputera business interests should be based on genuine entrepreneurial principles.

Anwar also took the opportunity to listen to the challenges and current situations raised by Malay entrepreneurs.

“InsyaAllah, these matters will be scrutinised so that solutions to fundamental issues can be planned,” he said.

Anwar noted that DPMM, established in 1938, had a vision to fight for the economic welfare and dignity of the Malay and Bumiputera community and that it now stood strong with a membership of nearly one million through 15 branches and several affiliates.

— Bernama

Prime Minister Datuk Seri Anwar Ibrahim (third from right) with the leaders of the Malay Chamber of Commerce Malaysia, during their meeting at his office in Putrajaya on May 30, 2024. — Picture via FACEBOOK/ANWAR IBRAHIM

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