The National Employment Council (NEC) created by Perikatan Nasional plans to create 500,000 jobs by granting more incentives to foreign direct investment (FDI). A recent statement by Shahril Hamdan from UMNO Youth asserting that Malaysia has lost its low-wage competitive edge to attract FDI should be taken seriously.
Besides, global capitalists are refraining from investing due to lack of general demand from global consumers. Thus, PN cannot hope that global capitalists will graciously come to Malaysia’s aid.
The following are 3 suggestions from Parti Sosialis Malaysia (PSM) to create 30,000 jobs immediately to address soaring unemployment:
Allow people work on abandoned agricultural land (12,000 new jobs)
In 2014, there are 119,273.38 hectares of abandoned land but high land cost is preventing youths from venturing into agriculture. Thus, interested individuals should be allowed to cultivate 10 hectares of land for 25 years without up-front fees or capital. The land could granted to new youngsters after the existing land cultivators retire or after 25 years to ensure continuity. However, government has to dismantle the “middle-men” cartels and cronyism causing small farmers to remain poor in Malaysia.
Improve Energy Efficiency of Government Premises with Energy Performance Contracts (EPC) (4,000 new jobs)
In 2015, government premises consumed about 10% of national electricity demand at the cost of RM5 billion. EPCs could be used to improve the energy efficiency of government premises creating new construction jobs and ramping up demand for construction materials. Under EPC, the government doesn’t fork up anything up-front but pays the contractors from the monthly electricity savings
Divert Savings from Petrol-Diesel Subsidies Into Public Transport (14,000 new jobs)
The government is expected to save about RM 12 billion in petrol-diesel subsidies between 2020 and 2021 due to lower petrol prices. These savings should be diverted to develop our public transport system. The government could buy at least 13,300 electric buses with RM12 billion.
Parti Sosialis Malaysia (PSM)
Parti Sosialis Malaysia Negeri Melaka (PSM Melaka)