He added that the second reading is expected to be held on Wednesday.
“The bill was withdrawn to pave the way for the tabling of a new EIS bill,” he said in a media statement today.
Riot also said the government is committed to implementing the scheme in January 2018.
According to Riot, the scheme will involve 430,000 employers and 6.6 million employees.
This includes retrenched workers, those who take voluntary separation schemes and absconded staff, and covers bankruptcy, closure of business, reorganisation of business and redundancy, among others.
Riot said workers who have lost their jobs but who have been contributing to the EIS for a certain period would be eligible to apply for assistance and job services, including career counselling, job searches, job matching and placements, and training if necessary.
The EIS bill was first tabled in August. It provides re-employment services and five types of benefits in the form of cash assistance.
This includes:
- Job search allowance (JSA) on descending percentage of insured wage;
- Early re-employment allowance (ERA) for those who secure a new job before their JSA is used up;
- Reduced income allowance (RIA) for workers who work for more than one employer, at the same rate as JSA;
- Training allowance (TA) based on the needs of each worker at a minimum rate of RM10 and maximum of RM20 per day; and
- Training fees (TF) with a maximum of RM4,000 paid to training providers.