20/1 Second stimulus package to be launched soon to look into assisting companies and retrenched workers: DPM Najib/STARA former minister told me the other day that the Government should look also into the Human Resources Development Fund to help out retrenched workers. Not for retraining but to help put food on their table if it comes to that. SatD, a Malaysian blogger abroad, agrees on that bit about retraining when arguing his case for a unemployment insurance. "Retraining assistance when someone is struggling to pay his bills, installments, children food does not mean much......".
Experience tells us we'll need to act swiftly. We are not just dealing with the possibility of 1 million Malaysians (including 500,000 who are working in Singapore) losing jobs; we have millions of foreign workers here and many of them will most probably be losing jobs, too. The socio-economic impact will be colossal.
Read SatD's Unemployment Insurance, the Missing Social Safety Net
Let's discuss how we can help the authorities deal with the coming economic storm.