Datuk Seri Najib Razak said today that the rent seeking and patronage that has marked affirmative action policies will not be tolerated under the New Economic Model (NEM) which he says will now consider all races fairly as long as they are in the lower income group.
“We can no longer tolerate practices that support the behaviour of rent seeking and patronage which have long tarnished the altruistic aims of the New Economic Policy,” the prime minister said today when unveiling the NEM at the Invest Malaysia conference. ”For too long the implementation of our affirmative action policies has not reached those who needed them the most.”
Najib said that the renewed affirmative action policy in the NEM would focus on raising income levels of all disadvantaged groups.
He added that affirmative action will be market friendly, merit based, transparent and needs based.
He said one important consideration will be developing a competitive and transparent tender process for the bumiputera business community.
“In practice, this approach will mean greater support for the bumiputera, a greater support based on needs not race.”
Najib also acknowledged that there would be opposition to reforms from vested but vowed to push through with reforms.
“I pledge that we will work to develop and implement economic reforms needed for the country to grow further,” Najib said. “Some are questioning the need for urgency to break habits of the past. There are now calls to protect the status quo. Do not be fooled. We need a new way of doing things.”
The PM unveiled today economic reforms that he said would make this country a developed nation by 2020, outlining broad strokes but providing few clues as to how he would get there.
He said that the NEM, which forms the backbone of his administration’s long term policy agenda, would undergo a period of public feedback and details will be integrated into the tenth and eleventh Malaysia plan.
He added that the NEM would be delivered through the Economic Transformation Programme which consists of eight strategic reform initiatives:
1) Re-energising the private sector to lead growth
2) Developing a quality workforce and reducing dependency on foreign labour
3) Creating a competitive domestic economy
4) Strengthening the public sector
5) Putting in place transparent and market friendly affirmative action
6) Building knowledge based infrastructure
7) Enhancing sources of growth
8) Ensuring sustainable of growth
Najib said that key sectors, called the National Key Economic Activities (NKEA) would be identified where the economy would have the potential to thrive.
He added that the “New Economic Model” will see more divestments of government holdings in listed companies and the government is still in consultation on the reform of its subsidy policy.
However, there was no timeframe for the new taxes and for cuts in a subsidy regime that sees Malaysians pay one of the lowest prices for petrol in Asia and that cost the country RM24.5 billion in 2009 out of 160.2 billion in federal government operating spending.
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And again, the NEM will fail as history will repeat itself and it's back to square one where the UMNOputras will manoeuvre its corrupt hands; the likes of Perkasa's idealogy through its implementation process which is why the 80% of the poor Malays and the rakyat has remained in this present state for the last 52 years under BN rule...KRA & KPI will be compromised for sure because of the NEP syndrome.
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