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An economic policy with soul – Dr Sharifah Hapsah Syed Hasan | Scoop
The Care Economy and social protection aspects will help reduce the unpaid burden of care, which inordinately falls on the shoulders of women and is most often the reason for their not remaining in the labour force. – Unsplash pic, July 27, 2023
Opinion/Analysis

An economic policy with soul – Dr Sharifah Hapsah Syed Hasan

Madani framework focuses on people's well-being, competitive economy

Updated
6:11 PM MYT

 

THE National Council of Women’s Organisations (NCWO) welcomes the policy framework for the  Madani Economy initiative outlined by the prime minister at the Securities Commission today. 

Cross-sectoral and multilevel consultations have given soul to the framework with its strong focus on the well-being of the rakyat while promoting a competitive economy. 

NCWO is pleased with the emphasis on the Care Economy and social protection aspects, which will help reduce the unpaid burden of care, which inordinately falls on the shoulders of women and is most often the reason for their not remaining in the labour force. 

The demand for services in childcare, eldercare, care for people with disabilities, care for children with special needs, in particular autism, which is on the rise, mental health, personal social services, and domestic services is increasing with the ageing population and the migration of young people away from home. 

Public spending on long-term care against gross domestic product would not be sustainable if the burden of care was not shared with the non-governmental sector and private enterprises. 

NCWO is committed to working in a whole nation approach to promote the growth of the Care Economy, which has the potential to attract investments, create jobs, especially for B40, women, and youth, decrease our dependency on low-skilled foreign workers, increase productivity through technology adoption and work-life balance, and most importantly, attract and retain women in the workforce. – July 27, 2023

Prof Emerita Tan Sri Dr Sharifah Hapsah Syed Hasan is president of the National Council of Women’s Organisations

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