Those who come out with public-pleasing statements such as cutting their pay, are insidious and subtle inference that you should also consider reducing your own pay so to help the economic problems we are facing in Malaysia.
Unfortunately cutting pays is not going to solve our economic problems. It is also incorrect in Malaysia’s case to focus on salaries and wages as an economic lever.
The real issue for Malaysia is the economy is stagnating. There are very little growth catalysts, not many new future-ready sectors as compared to the many old economy sectors that dominate the market.
Training the focus on salaries and wages also completely ignores that fact that costs of goods, such as commodities, finished goods globally are high, or represents a higher portion of one’s income than in many other countries.
It is better to focus attention on helping create or facilitate more economic activities especially in the future ready sectors to really help Malaysia get out of its middle income trap!
