KUALA LUMPUR, May 1 — Datuk Seri Anwar Ibrahim today announced the Progressive Acceleration for Capability and Employment (PACE) Economic Resilience Package, valued at more than RM710 million, as part of efforts to strengthen human capital development and ensure the stability of the national labour market.
The prime minister said PACE forms part of the country’s economic resilience strategy.
“It comprises four main initiatives and will be implemented through the Human Resources Ministry (KESUMA),” he said in his speech at the national-level 2026 Workers’ Day celebration at Unifi Arena, Bukit Jalil here.
Also present were Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi, Human Resources Minister Datuk Seri Ramanan Ramakrishnan, Communications Minister Datuk Fahmi Fadzil, and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.
Anwar also announced that the Self-Employment Social Security Act 2017 will be amended to expand protection under the Social Security Organisation (SOCSO) to Malaysians working abroad, beginning with cross-border workers between Malaysia and Singapore.
The initiative is expected to benefit more than 480,000 people who commute across the Johor Causeway for work.
“On average, we lose one life every week, or 54 deaths a year, among these (Malaysian) cross-border workers. Our children wake up as early as 4am to cross into Singapore and only return home at night. So, how can we extend SOCSO protection to Malaysians overseas?
“That is why we will amend the Self-Employment Social Security Act 2017 to enable this protection to be expanded,” he said.
Anwar said PACE includes a RM580 million allocation by SOCSO to strengthen the social safety net through Employment Insurance System (EIS) benefits, aimed at assisting workers who have lost their jobs while enhancing their employability.
“In this era of AI, we cannot afford to fall behind in strengthening training and job placement. We must ensure that youths and vulnerable groups remain competitive and productive.
"For this purpose, the government, through HRD Corp, has allocated RM100 million under the HRD Yakin Madani programme, which is also supported by MyFutureJobs to facilitate job placements.
“To diversify skills and strengthen social protection for gig workers, the government has channelled RM20 million to the Skills Development Fund Corporation (PTPK), specifically for skills training for gig workers, particularly those in the e-hailing and p-hailing sectors."
He also announced a RM10 million fund from TalentCorp for the Industry Training Matching Grant aimed at supporting micro, small and medium enterprises (MSMEs) and start-ups that offer industrial training placements.
Fuel subsidy maintained
Meanwhile, Anwar said the government will continue to take the necessary measures in facing global economic uncertainty, which has become more challenging this month compared to three months ago.
“At the end of February, crude oil prices were at US$70 per barrel, and today they have surged to US$115 per barrel. The increase is very steep, meaning the impact of this economic (uncertainty) is felt worldwide.
“There are (shortages) of materials for those working in plantations, a short-term shortage of phosphate, and (prices) of diesel have risen. Those working in factories, those driving lorries... everyone is affected,” he said.
Anwar said Malaysia is also maintaining the subsidised RON95 petrol price under the BUDI Madani RON95 initiative at RM1.99 per litre, even though most oil-producing countries have already raised their prices.
“That is why I ask workers to understand why I insist on keeping the fuel price at RM1.99 per litre.
“(There is) pressure from economists and the corporate sector suggesting (to me) to be realistic. So, I am being realistic, safeguarding the national economy and the people, but I am also pondering on the fate of workers, especially those in the lower-income group."
He said the government, through the Finance Ministry, has also announced an additional RM5 billion guarantee under Syarikat Jaminan Pembiayaan Perniagaan (SJPP) to assist micro, small and medium enterprises (MSMEs) affected by global supply disruptions following the United States–Iran conflict in West Asia.
In addition, Anwar said the government, through Bank Negara Malaysia (BNM), has announced a RM5 billion SME Stabilisation Relief Facility, bringing the total to RM10 billion to help ease the burden of MSMEs affected by the crisis.
