CORRECTION

NEM TO BENEFIT ALL


KUALA LUMPUR, March 30 (Bernama) -- The New Economic Model (NEM) unveiled by
Prime Minister Najib Tun Razak Tuesday will generate benefits for all
Malaysians, irrespective of race under its inclusive growth goal and approach.

The pro-poor growth warrants that no groups be marginalised and the
essential needs of the people will be satisfied, according to the NEM.

Under the NEM, inclusiveness will enable all communities to contribute to
and share in the wealth of the country.

It points out that a key challenge of inclusive growth is the design of
effective measures that strike a balance between the special position of
the Bumiputera (son of earth) and legitimate interests of different groups.

While saying that ethnically divide societies are more prone to violent
conflicts, NEM emphasises that the multi-racial composition of the Malaysian
population is still its outstanding feature and this ethnic diversity will
always be with us.


As such, the market-friendly affirmative action programmes in line with the
principle of inclusiveness will target assistance to the bottom 40 per cent
of households, of whom 77.2 per cent are Bumiputera and many are located in
Sabah and Sarawak, East Malaysia states, and ensure equitable and fair
opportunities through transparent processes.

It also allows access to resources on the basis of needs and merit to enable
improvement in capacity, incomes and well-being, and has sound intellectual
frameworks for better monitoring and effective implementation.

"The ETP (Economic Transformation Programme) will provide mechanisms to
strengthen the capability of the bottom 40 per cent so that they can take
advantage of opportunities to secure better jobs, raise their productivity and
grow their income.

"This group will be assisted with programmes to build skills so that they
can use their entrepreneurial instincts to start and grow their businesses," it
says.

The NEM will also ensure equality be achieved through competition that
is complemented with merits and recognition.

"Families will be endowed with the opportunity and capabilities to pursue
their aspirations in connected, sophisticated modern cities, townships and
villages. They will live, work and study in localities free from the fear of
crime, the indignity of discrimination and the anxiety of need," it says.

-- BERNAMA