Employers should pay their staff better salaries if their companies are doing well, Tun Dr Mahathir Mohamad said at a forum yesterday, 19 March
At the annual Invest Malaysia 2019 (IMKL2019) forum, the Prime Minister emphasised that it is unfair for top management to reap the profits, while lower income staff struggle to make ends meet.
"We don't want a thoroughly unequal society where capital owners take too much a chunk of national income, leaving the workers or low-income households with scraps," he said, as quoted by New Straits Times.
In addition, he revealed that employers' salaries have been steadily increasing, while their employees' pay have shown little to no difference
"We noticed that the pay for the chief executive officers (CEOs) has been increasing multiple fold, but workers' wages had been slow to rise if not stagnant. This is not right," he said, according to the report.
Dr Mahathir urged leaders to take on a "stakeholder mindset".
Although business growth is important, he said the benefits of people are equally crucial.
"Shared prosperity means that everyone benefits and such a situation is conducive for growth and stability.
"We cannot have one group succeeding, dominating or monopolising everything, while others lag behind," he reiterated to 2,000 foreign fund managers and corporate leaders present at the forum.
He added, "The gap between the haves and haves not must be narrowed. If disparity is left unchecked, it will create tension and hostility, and eventually lead to confrontations."
Following the 14th General Elections last year, Pakatan Harapan leaders agreed to take a pay cut to help with Malaysia's RM1 trillion debt:
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