Even those settled comfortably here, working for many years, are now considering leaving for other countries or back to Bangladesh as the money is just not worth it anymore.
One such worker, who works at a pub in Sri Hartamas, in Kuala Lumpur, is contemplating leaving Malaysia especially with speculation that the value of the ringgit is only going to get worse, The Straits Times (ST) reported.
“When I first arrived in 2012, RM1 would give me 27 (Bangladeshi) taka. Now after the drop, I am lucky to get 17 taka,” the Singapore daily quoted him as saying.
These workers are not only working to send money back to their families, but most are still paying off their debt to agents back home for the initial fees and other expenditure incurred to bring them to Malaysia. And their already low wages is just not enough.
The ringgit has plunged nearly 7% over the last two weeks, the worst performing currency in Asia. On Monday, it dropped further to RM4.46 to the US dollar and has remained just below the RM4.50 mark since.
The ringgit also sunk to an all-time low against the Singapore dollar this week, hitting RM3.12 to the SGD.
Industries in Malaysia who are heavily dependent on foreign labour are already feeling the pinch. Some are even willing to adjust their wage structure and provide incentives to retain these workers.
“The large companies are considering making adjustments in the wages and subsidising the amount of money workers can send home. But workers for smaller companies are unlikely to renew their employment permits because of the high cost,” Malaysian Employers Federation (MEF) executive director Shamsuddin Bardan told The Straits Times.
Shamsuddin also revealed that the idea to have Rohingya refugees work in Malaysia, as announced by Deputy Home Minister Nur Jazlan Mohamed last week, is from a proposal made by MEF.
“To counter the potential exodus of foreign workers, MEF made representations to the government to consider allowing the roughly 160,000 refugees in the country, comprising mainly Rohingya and a smattering of Syrians, to fill the void.
“The government may wish to treat refugees allowed to work differently and not necessarily under temporary work permits like the foreign workers currently,” Shamsudin said, according to ST,
On Nov 24, Nur Jazlan said the government is in the process of implementing a pioneer project to allow 300 Rohingya refugees, holding the United Nations High Commission For Refugees (UNHCR) card, to work in the country.
Nur Jazlan said those who are qualified and meet conditions stipulated by the government would be allowed to work in the plantation and manufacturing sectors.
According to ST, the UNHCR has put a lot of effort for many years to try and get large corporations to help the refugees to earn some income from informal work, but refugee aid NGOs say there has been little success.
This may change though if the pioneer programme by the government shows positive results.