This Asian country is paying 75% wages of 2 million workers this month to beat economic slowdown

WION Web Team New Delhi, India Apr 07, 2020, 11.57 AM(IST) Edited By: Bharat Sharma

Singapore's economic district Photograph:( AFP )

Story highlights

Almost 2 million workers in the country will receive wage subsidies and assistance from the government

The COVID-19 pandemic has slowed down economies, and rendered many people without wages, especially in the unorganised sector. One country has stepped up efforts to deal with this!

The Singapore government has rolled in relief measures to ease the economic fallout from lockdowns induced by the coronavirus pandemic.

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Almost the whole world is currently shut down, with economic and industrial activity resuming only in China, the original epicentre of COVID-19.

The government intends to pay over 75 per cent salaries of all local and permanent resident workers for April to compensate for losses.

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Additionally, as expressed by Deputy Prime Minister Heng Swee Keat, people would also receive money under the Jobs Support Scheme (JSS). It will be fast tracked for this month to avoid shortage of cash!

According to local news portal Straits Times, this is the third attempt in a series of relief measures aimed at workers.

Almost 2 million workers in the country will receive wage subsidies and assistance from the government.

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The lockdown has halted most industries, with no firms operating in the country right now. “Circuit breaker measures” were announced by Prime Minister Lee Hsien Loong on Friday.

As part of this circuit-breaking, only essential services will operate for a month, with everything else ordered to remain shut.

Heng reiterated that employers should pay their workers even during the period, otherwise operations will not resume smoothly after the lockdown is lifted.

(With inputs from agencies)