The PSM is appalled to learn through a news item in page 6 of the STAR on 12th June 2012 quoting Datuk Seri Dr Chua Soi Lek as stating that the Prime Minister has directed the Human Resources Minister Datuk Seri Dr Subramaniam to shelve the “Unemployment Insurance Scheme”. Apparently this directive was given during a National Economic Council meeting on 11thJune 2012.
Several parties including the PSM, JERIT and the MTUC have been pushing for a Retrenchment Fund ever since the recession of 1997 – 1998. The government has said that they are seriously studying the issue, and more than a year ago, the government claimed it had referred the matter to the ILO for advice. Now after dragging its feet on this matter for 15 years, the BN government has decided to shelve the idea!