00:00The government should maintain the newly proposed 2% Mandatory Employee Provident Fund contribution
00:07rate for foreign workers to ensure business stability.
00:12This is what Federation of Malaysian Manufacturers President Soe Tien Lai said after Prime Minister
00:18Anwar Ibrahim announced earlier today that the government has proposed to implement a
00:23mandatory 2% EPF contribution rate on foreign workers instead of the initial rate of 12%.
00:31Soe said this 2% rate should be upheld for a reasonable period to provide cost certainty
00:37for businesses.
00:39He also said any potential adjustments to the rate should be implemented after consulting
00:45with the private sector, especially industries reliant on foreign labour.
00:50Soe said the government's proposal today was a welcome relief and reflected its responsiveness
00:56to concerns raised by industry players.
00:59Last year, FMM expressed disappointment over the government's unexpected announcement
01:05that all foreign workers would be required to contribute to EPF starting this year.
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