Feb 18, 2007

PM : Dasar Ekonomi Baru (NEP) is not a permanent feature

Yesterday PM reminded us that we, Malaysians are enjoying a high standard and comfortable living under his administration, and now our beloved PM is highlighting that New Economic Policy (NEP) is not a permanent feature in Malaysia's economic policy. Don't you think that he is trying very hard to sell something? Maybe election is really just around the corner.

KUALA LUMPUR, Feb 17 (Bernama) -- While the New Economic Policy (NEP) is intended to address the economic imbalance between the ethnic groups in the country, it would not be a permanent feature in Malaysia's economic policy, Prime Minister Datuk Seri Abdullah Ahmad Badawi said.

He said the policy will only be implemented until the country had achieved the policy's objectives and there was no reason for the continuation of the policy once the objectives were met.

"When the objectives are met there is no reason for the continuation of the policy because the policy is anchored to that objective, and the faster we get to that objective the faster we will be able to throw away the crutch," he said in an interview with cable news channel Al-Jazeera.

The NEP, introduced in the 1970's, aimed to address the ethnic economic imbalance and to close the gap between the indigenous and non-indigenous people which Malaysia aimed to achieve before 2020.

Acknowledging that the vision would not be easily achieved, the Prime Minister said this was especially in ensuring that the indigenous people, who previously had only two percent of the economic cake, obtained up to 30 percent of the share.

"At the same time, it is to create a situation where the indigenous people can now also be actively involved in business and industry. That's not easily done," he said to questions fielded by host Teymoor Nibili in the 25-minute interview.

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