ID :
69021
Sat, 07/04/2009 - 10:24
Auther :
Shortlink :
https://oananews.org//node/69021
The shortlink copeid
PM NAJIB CONFIDENT BN, UMNO AND MALAYS WILL SUPPORT LIBERALISATION MEASURES
By M. Saraswathi
KUALA LUMPUR, July 4 (Bernama) -- Najib Tun Razak says National Front
(Barisan Nasional - BN) including top United Malays National Organization (UMNO)
leaders as well as the Malays are supportive of the various liberalisation
measures he has announced since taking over as Prime Minister on April 3 this
year.
National Front (Barisan Nasional; commonly abbreviated as BN) is a major
political coalition in Malaysia. Formed in 1973 as the successor to the Alliance
and it has been Malaysia's ruling political party since independence.
While the United Malays National Organisation, or UMNO is a right-wing party
and Malaysia's largest political party. It is also a founding member of the
Barisan Nasional coalition.
He expressed confidence that this would translate into votes for the ruling
party in the 13th General Election.
He also said that the spirit of the New Economic Policy (NEP) in its macro
form would continue but the instruments used to achieve to restructure society
and achieve equality would have to be changed.
"I have engaged with the key players before I announced this and they
believe that it is time for us to change, review and move forward. I think
people realised that," he said when asked if his political party was behind
him on all the moves he has been doing.
However, with all the measures announced, that does not mean the country has
abandoned the need to have more equitable society, as it remains the main goal,
he said in an interview with Adam Bakhtiar on CNBC which was aired in its
entirety Friday.
A short version was aired last Wednesday where he touched on the ringgit and
the economy.
During the half-hour interview, Najib who is also Finance Minister, said the
party was working towards gaining the people's confidence and vote.
"A policy is as good as translated into votes. That is one of the
fundamentals of democracy and ultimately you have to go to the people. I want
people want to judge by my actions and hopefully they will judge it favourably
when the time comes," he said when asked if the party will gain strength with
the measures introduced.
Najib said he was confident that Malaysians as a whole, including the Malays
and Bumiputeras (sons of soil) would realise that the changes put in place by
the government was the best way to move forward.
He stressed that he was delivering on his promises when he assumed the
office.
Among the most recent liberalisation measures was repealing the Foreign
Investment Committee (FIC) guidelines with immediate effect covering the
acquisition of equity stakes, mergers and takeovers.
With the FIC repealed, it means dropping the 30 percent Bumiputera equity
requirement for Malaysian companies seeking public listing but they will now be
offered 50 percent of the 25 percent public shareholding spread.
Najib said that the government would engage and communicate with the people
on the measures taken.
He said the Malays would support the liberalisation. "There are some
really good Bumiputera entrepreneurs and corporate players. Some of them run
major corporations and run them very well as you know. So they are not people
without substance."
The only thing new in the policy is that the government would identify
the right Bumiputera company, which has high potential for growth.
"If you support the companies that are deserving and promising, I don't
think even the non-Malays will criticize you for that. I think they want to see
it
being implemented in a fair manner and we will do that," he said.
To suggestions that he was reversing his father's policies relating to
Bumiputera equity participation, he said:
"In terms of the goals, Tun Razak's vision is still alive but the path
we choose (and) the instrument to get there must be new, (they) cannot be the
old instruments.
"Times have changed, old instruments have not really worked, not
delivered. But this whole notion of having a fair and equitable society is a
dream and I think all Malaysians share that dream."
"It is just that it must be fair in the way we implement it, we must ensure
that no ethnic group is marginalised and disincentivised as well," said Najib.
"So, within the premise of what I have mentioned, I came up with the tag
line of 1Malaysia, and I am interpreting 1Malaysia of specific policies but we
must work together as one people, one nation and above all one dream," he
said.
-- BERNAMA
KUALA LUMPUR, July 4 (Bernama) -- Najib Tun Razak says National Front
(Barisan Nasional - BN) including top United Malays National Organization (UMNO)
leaders as well as the Malays are supportive of the various liberalisation
measures he has announced since taking over as Prime Minister on April 3 this
year.
National Front (Barisan Nasional; commonly abbreviated as BN) is a major
political coalition in Malaysia. Formed in 1973 as the successor to the Alliance
and it has been Malaysia's ruling political party since independence.
While the United Malays National Organisation, or UMNO is a right-wing party
and Malaysia's largest political party. It is also a founding member of the
Barisan Nasional coalition.
He expressed confidence that this would translate into votes for the ruling
party in the 13th General Election.
He also said that the spirit of the New Economic Policy (NEP) in its macro
form would continue but the instruments used to achieve to restructure society
and achieve equality would have to be changed.
"I have engaged with the key players before I announced this and they
believe that it is time for us to change, review and move forward. I think
people realised that," he said when asked if his political party was behind
him on all the moves he has been doing.
However, with all the measures announced, that does not mean the country has
abandoned the need to have more equitable society, as it remains the main goal,
he said in an interview with Adam Bakhtiar on CNBC which was aired in its
entirety Friday.
A short version was aired last Wednesday where he touched on the ringgit and
the economy.
During the half-hour interview, Najib who is also Finance Minister, said the
party was working towards gaining the people's confidence and vote.
"A policy is as good as translated into votes. That is one of the
fundamentals of democracy and ultimately you have to go to the people. I want
people want to judge by my actions and hopefully they will judge it favourably
when the time comes," he said when asked if the party will gain strength with
the measures introduced.
Najib said he was confident that Malaysians as a whole, including the Malays
and Bumiputeras (sons of soil) would realise that the changes put in place by
the government was the best way to move forward.
He stressed that he was delivering on his promises when he assumed the
office.
Among the most recent liberalisation measures was repealing the Foreign
Investment Committee (FIC) guidelines with immediate effect covering the
acquisition of equity stakes, mergers and takeovers.
With the FIC repealed, it means dropping the 30 percent Bumiputera equity
requirement for Malaysian companies seeking public listing but they will now be
offered 50 percent of the 25 percent public shareholding spread.
Najib said that the government would engage and communicate with the people
on the measures taken.
He said the Malays would support the liberalisation. "There are some
really good Bumiputera entrepreneurs and corporate players. Some of them run
major corporations and run them very well as you know. So they are not people
without substance."
The only thing new in the policy is that the government would identify
the right Bumiputera company, which has high potential for growth.
"If you support the companies that are deserving and promising, I don't
think even the non-Malays will criticize you for that. I think they want to see
it
being implemented in a fair manner and we will do that," he said.
To suggestions that he was reversing his father's policies relating to
Bumiputera equity participation, he said:
"In terms of the goals, Tun Razak's vision is still alive but the path
we choose (and) the instrument to get there must be new, (they) cannot be the
old instruments.
"Times have changed, old instruments have not really worked, not
delivered. But this whole notion of having a fair and equitable society is a
dream and I think all Malaysians share that dream."
"It is just that it must be fair in the way we implement it, we must ensure
that no ethnic group is marginalised and disincentivised as well," said Najib.
"So, within the premise of what I have mentioned, I came up with the tag
line of 1Malaysia, and I am interpreting 1Malaysia of specific policies but we
must work together as one people, one nation and above all one dream," he
said.
-- BERNAMA
