KUALA LUMPUR: Parti Sosialis Malaysia (PSM) has urged the government to fast-track the Employment Insurance Scheme (EIS) bill in order to protect retrenched employees.
The novel Bill was tabled for the first reading in the Dewan Rakyat by Human Resources Minister Datuk Seri Richard Riot Jaem yesterday.
PSM in a statement today said, while the party commended the ministry's effort in tabling the bill, it expressed concern that more employees in private sector will be facing financial problems if the bill is not implemented immediately.
"Two weeks ago a company shut down its factory in Malaysia because they are moving to Vietnam. 237 employees lost their jobs.
"So what kind of protection do they have while searching for a new job? But with EIS, it could bring hope to employees who are in a difficult position," read the statement.
PSM today, led by its central committee member Dr Michael Jeyakumar, sent a memorandum to Richard on the matter.
The memorandum was received by the ministry's principal assistant secretary Mohd Hajazy Jusoh.
The EIS is primarily aimed at helping provide financial assistance to private workers who lost their jobs until they find new employment.
Retrenched workers will also be given help to search for new jobs, career counselling and training.
Prime Minister Datuk Seri Najib Razak had announced on May 1 that the government has agreed to provide the Social Security Organisation with RM70 million for the payment of financial benefits relating to the EIS from next year.