RM1,500 minimum wage in Selangor amid record cash reserves

(Harakah Daily) – The Selangor state government said it would implement the minimum wage of RM1,500 applicable to all employees of state companies.

At the tabling of the state’s 2012 budget, Menteri Besar Abdul Khalid Ibrahim said the move will cover employees of financially stable state-owned companies first before being implemented to others.

Among the companies mentioned include the Selangor State Development Corporation (PKNS), Selangor Agricultural Development Corporation (PKPS), Selangor State Capital Berhad (PNSB) and Worldwide Holdings Bhd.

With a total of RM1.6 billion, Khalid said Selangor’s 2012 budget would continue the state’s declared aim of spreading wealth directly to the people under the theme “Selangorku: State Resources for the People”.

“This is the fourth time the state government has tabled a balanced budget since taking over in 2008. This budget is a continuation of efforts to spread state wealth to the people,” he said.

Khalid also announced that the state’s cash reserve now topped RM1.2 billion, describing it as the highest in 28 years.

RM600 million worth of development

Of the RM1.6 billion, RM1 billion has been allocated for operational cost, 69.4 per cent of which goes to emolument, supply and services. The others include state offerings and fixed payment stood (28.4 percent), asset (0.8 percent) and other expenditure at 1.5 percent.

Some RM600 million from the state budget is allocated for development, out of which 68 percent or RM411,091,860 is for infrastructure, 17 percent (RM100,060,130) for social development, 14 percent (RM84,240,010) for the economic sector and the remaining RM4,608,000 for urban development.

“State revenue for 2012 is expected to continue to rise with tax revenue projected to increase by 8.23 percent or RM43,694,000 to RM574,674,000 from RM530,980,000 in 2011,” he said.