Former Finance minister Lim Guan Eng today blasted two ministers for not following to the dot, our minimum wage policy.
Lim Guan Eng, Bob Dylan wrote ;
Don't stand in the doorway, don't block up the hall
For he that gets hurt will be he who has stalled
The battle outside ragin'
Will soon shake your windows and rattle your walls
For the times, they are a-changin'
For he that gets hurt will be he who has stalled
The battle outside ragin'
Will soon shake your windows and rattle your walls
For the times, they are a-changin'
Lim called one of the minister heartless, I feel the ministers were merely being pragmatic. CLICK TO READ
Over the last couple of months, UHY Malaysia, under the stewardship of Alvin Tee Guan Pian, had come out with a series of articles urging a relook at the minimum wage as well as for the government to look at a social pension option . I believe these issues are very relevant and related directly to the man in the street.
You can click below to read.
Lim Guan Eng seems absent on these matters, opting to play the populist with the minimum wage flag.
Consider this, We have one of the highest minimum wage , especially when compared with Indonesia, Vietnam, Thailand and Laos. CLICK HERE TO COMPARE.
Also, we currently pay about between four to five times more than what a Bangladeshi can earn in his or her country. Can we afford to be generous at this point?
It will of course will look good on paper and in forums, but at this point we need to relook minimum wage.
For starters, reduce foreigners minimum wage as for Malaysians, the minimum wage should be tied to academic qualification, job scope and responsibility.
It is insanely stupid for a guy selling burgers at McDonalds and a fresh graduate, theoretically earning the same amount.
Ultimately, we should just follow Adam Smith's advice...let the market decide, and may the best win!!!
