Making NEP a needs-based policy

REFERED to press reports quoting Economic Affairs Minister Datuk Seri Mohamed Azmin Ali that the government will undertake a review of the New Economic Policy (NEP) to meet the aspirations of the new Malaysia.

take one of the most important steps to drive the country on a path of sustainable growth.

As the report on the new economic model indicates, Malaysia needs to revise the NEP to be competitive in the domestic and external sectors in order to grow at least 6-7% pa in the next few years. Only steady and sustainable growth can enable us to become a fully developed economy in the true sense of the word.

The revision is part of Pakatan Harapan's reform manifesto to create favorable conditions that will motivate all Malaysians to have confidence in the country's future. Reforms on governance and the rule of law will ensure that whichever party governs the country in the future, there will be justice and equity for all Malaysians. Key government institutions will be made independent to protect the people from abuse of power without fear or favor.

All these reforms will create a stable democracy, which is important not only for itself, but also as a necessary condition for sustainable development.

The revision of the NEP to make it based on need rather than race will make it fair for all races.

The Malays will always be the main beneficiaries of the revised interventionist policy, because they are the largest community and form a higher percentage of the poor.

Whether it is business licenses and permits, government contracts, housing, education or employment in the public sector, all will have the possibility to apply according to their poverty. and their need for government assistance. Thus, no one will feel a sense of loss or deprivation in the way the government helps the poor.

This phrase on avoiding "a sense of loss and deprivation" was introduced in the wording of the NEP. the second Malaysia Plan document (1971-1975) to ensure fair treatment for all races. The MP document further specifies that the NEP should not "kill the goose that lays the golden eggs", which means that its second strategy of restructuring the company by creating a commercial and industrial Bumiputra community (BCIC) and the creation of state enterprises that support the goal of the BCIC should not stifle the private sector because it is the engine of growth of the economy.

The government took action from the mid-eighties, after the privatization was introduced to allow private capital and entrepreneurship to take over some public and private functions. thus broaden the scope of the private sector in the private sector. economy. The Industrial Coordination Act and, later, the Foreign Investment Committee and the Capital Issues Committee were abolished because they added to the bureaucracy doing business in the country. All of these measures have helped revive the activity of the private sector. The government should now go further to facilitate trade decisions.

Malaysia must retain the best talent for its development efforts to succeed. I hope that the revised NEP will lead to diversity of employment in the public service and in the public sector based on the principles of meritocracy and commitment to serving the nation. Those with talent should be promoted to the highest positions in the public service regardless of race or religion.

At the same time, efforts should be made to set up the Equal Opportunity Commission. sector, especially in traditional Chinese family enterprises. The Commission will help dispel racist suspicions and promote the implementation of the meritocratic policy, widely accepted by the public.

NEP has been implemented with so much policy that the quality of services provided to the public has deteriorated.

There is no doubt that the NEP review will require strong political courage to bring about structural change because there will be opposition.

The reality is that these changes are essential to creating a strong economy that will make us more socially stable. and politically and act as a shield against racial and religious extremists. This will inspire poor people of all races with the hope that even though it may be too late for some to change their lives, the future of their children will be much brighter.

Shri Sri Mohd Sheriff Kassim Mohd
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