KUALA LUMPUR: The government needs to build a robust social protection system to allow Malaysians to be able to handle the next economic shock without having to raise a white flag, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.
He said that Malaysia is committed to reforming its social protection system to improving the well-being of the people, with the mid-term review of the 12th Malaysia Plan having identified social protection reforms as a big goal for a more prosperous society.
"To achieve the social protection reforms, the government will adopt three initiatives, namely formulating policies on social protection system through a life-cycle approach; formulating guidelines on informal workers for more comprehensive social protection and expanding the 'Inisiatif Pendapatan Rakyat' or the People's Income Initiative programme to cover the hardcore poor and the low-income groups to increase their incomes," he said when officiating the 40th Asean Social Security Association (ASSA) seminar and board meeting today.
He said the government's aspirations to reform social protection are supported by the values of sustainability, care and compassion, respect, innovation, prosperity and trust under the concept of Malaysia Madani.
He added that the government is also exploring the expansion of the social protection network for the well-being of all Malaysians.
"This starts with establishing a social protection floor encompassing basic income security for key target groups before pursuing minimum standards under the International Labour Organisation Convention," he said.– BERNAMA