ID :
27278
Wed, 10/29/2008 - 16:47
Auther :
Shortlink :
https://oananews.org//node/27278
The shortlink copeid
NEP ELEMENTS WILL NOT BE ABOLISHED, BUT LIBERALISATION IN STAGES
PUTRAJAYA, Oct 29 (Bernama) -- Deputy Prime Minister Najib Razak said
elements of the New Economic Policy (NEP) would not be abolished at this time
but liberalisation of the policy would be undertaken in stages.
Najib, who is also Finance Minister, said although the NEP had been
replaced with the National Development Policy and now the National Mission,
there were provisions in the two policies which still mirrored the NEP spirit,
such as the quota allocations and certain considerations which are still
practised in order to achieve a fair distribution of wealth.
"When I spoke (about the NEP) in an interview with Bloomberg recently, I
did not mean that everything in the NEP would be abolished now.
"I said that when the Malays and Bumiputeras (sons of the soil) have
attained success and the confidence to compete at the domestic and global
levels, then they would no longer need quotas or special considerations," he
told reporters at an Aidilfitri (festival to mark the end of fasting month,
Ramadan) do hosted by the Malay Chamber of Commerce Malaysia at the Putrajaya
International Convention Centre.
Najib, when interviewed by Bloomberg TV's 'Voices' programme, had said he
was confident that elements of the NEP which ended in 1990 and replaced with the
National Development Policy in 1991, could be removed in stages.
He said it (abolishment) was not something that should be done in haste but
the changes to take place required consensus.
To achieve consensus, the matter must be discussed indepth before it is
abolished or undergo a major change.
"What I mean is gradual liberalisation, not saying that tomorrow we will do
away with every single provision.
"This concept of gradual liberalisation...I think it is something that can
be accepted by everyone," he said.
Earlier, in his speech, Najib did not deny that there were Malay
entrepreneurs who had the confidence to compete and succeed at the global level.
"I reiterate that the NEP elements would be replaced by the process of
liberalisation in a gradual manner or in stages, and not overnight.
"I understand that this has caused concern, especially among the Malays,"
he said.
Najib said the liberalisation he meant would use a formula that would not
burden Malay entrepreneurs and would be based on the principle of fairness for
all groups.
"We will take the views of all quarters so that whatever we implement will
be accepted by the people.
The NEP, a socio-economic restructuring affirmative action programme, was
launched by the Malaysian government in 1971.
-- BERNAMA
elements of the New Economic Policy (NEP) would not be abolished at this time
but liberalisation of the policy would be undertaken in stages.
Najib, who is also Finance Minister, said although the NEP had been
replaced with the National Development Policy and now the National Mission,
there were provisions in the two policies which still mirrored the NEP spirit,
such as the quota allocations and certain considerations which are still
practised in order to achieve a fair distribution of wealth.
"When I spoke (about the NEP) in an interview with Bloomberg recently, I
did not mean that everything in the NEP would be abolished now.
"I said that when the Malays and Bumiputeras (sons of the soil) have
attained success and the confidence to compete at the domestic and global
levels, then they would no longer need quotas or special considerations," he
told reporters at an Aidilfitri (festival to mark the end of fasting month,
Ramadan) do hosted by the Malay Chamber of Commerce Malaysia at the Putrajaya
International Convention Centre.
Najib, when interviewed by Bloomberg TV's 'Voices' programme, had said he
was confident that elements of the NEP which ended in 1990 and replaced with the
National Development Policy in 1991, could be removed in stages.
He said it (abolishment) was not something that should be done in haste but
the changes to take place required consensus.
To achieve consensus, the matter must be discussed indepth before it is
abolished or undergo a major change.
"What I mean is gradual liberalisation, not saying that tomorrow we will do
away with every single provision.
"This concept of gradual liberalisation...I think it is something that can
be accepted by everyone," he said.
Earlier, in his speech, Najib did not deny that there were Malay
entrepreneurs who had the confidence to compete and succeed at the global level.
"I reiterate that the NEP elements would be replaced by the process of
liberalisation in a gradual manner or in stages, and not overnight.
"I understand that this has caused concern, especially among the Malays,"
he said.
Najib said the liberalisation he meant would use a formula that would not
burden Malay entrepreneurs and would be based on the principle of fairness for
all groups.
"We will take the views of all quarters so that whatever we implement will
be accepted by the people.
The NEP, a socio-economic restructuring affirmative action programme, was
launched by the Malaysian government in 1971.
-- BERNAMA
