{
    "success": true,
    "data": {
        "id": 1521547,
        "msgid": "malaysia-told-to-get-saving-1447893297",
        "date": "1997-12-13 00:00:00",
        "title": "Malaysia told to get saving",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "Malaysia told to get saving KUALA LUMPUR (AFP): Malaysian Premier Mahathir Mohamad pushed the private sector to trim high salaries now paid to its senior executives in the wake of the current economic turmoil, reports said yesterday. \"One reason for a company's high operating costs is excessive salaries for top and middle-rung staff, like engineers fresh from university,\" Mahathir was quoted as saying by Bernama news agency.",
        "content": "<p>Malaysia told to get saving<\/p>\n<p>KUALA LUMPUR (AFP): Malaysian Premier Mahathir Mohamad pushed<br>\nthe private sector to trim high salaries now paid to its senior<br>\nexecutives in the wake of the current economic turmoil, reports<br>\nsaid yesterday.<\/p>\n<p>\"One reason for a company's high operating costs is excessive<br>\nsalaries for top and middle-rung staff, like engineers fresh from<br>\nuniversity,\" Mahathir was quoted as saying by Bernama news<br>\nagency.<\/p>\n<p>The prime minister also urged the private sector not to<br>\naccommodate demands by officers or executives, like engineers,<br>\nfor salaries twice or triple the normal rate.<\/p>\n<p>Anwar Ibrahim, the deputy premier, last week said the<br>\ngovernment would cut the salaries of ministers and senior<br>\ngovernment officers as part of austerity measures to instill<br>\nconfidence in the financial system.<\/p>\n<p>Mahathir chided professionals who are fresh graduates for<br>\nfixing their \"worth\" well in advance of accepting private sector<br>\njob offers.<\/p>\n<p>\"They determine what should be paid to them,\" the prime<br>\nminister said.<\/p>\n<p>Since the depreciation of the Thai baht on July 2, the<br>\nMalaysian ringgit has shed almost 48 percent against the dollar<br>\nwhile 50 percent of the stock market's capitalization has been<br>\nwiped out.<\/p>\n<p>Mahathir also said that the government would investigate the<br>\nreasons and causes of price increases of consumer goods.<\/p>\n<p>\"I want to know the reasons,\" he said, adding that the<br>\ngovernment may be compelled to enact laws to prevent certain<br>\ngroups from profiteering.<\/p>\n<p>News reports said that prices of essential commodities such as<br>\nsugar, milk, onions and fish had risen in recent weeks.<\/p>\n<p>Economists say any increase in the prices of essential items<br>\nwould fuel inflation and would subsequently drive workers to<br>\ndemand higher wages.<\/p>\n<p>Inflation stood at 3.5 percent last year and is expected to<br>\nincrease to 4 percent early next year.<\/p>\n<p>The central bank has pledged to curb the rise in inflation at<br>\nbelow 4 percent this year.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/malaysia-told-to-get-saving-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
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