KUALA LUMPUR, July 24 2018 : The Pakatan Harapan government believes the country’s economic policies should not be based on race but the needs of the people for the benefit of all Malaysians, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.
“This has been the practice of our economic policies in Selangor. Certainly with my limited experience in Selangor (as Menteri Besar previously), we should be able to expand that to the national level and to see how best our economic policies can benefit all Malaysians.
“The review of the New Economic Policy (NEP) is to ensure that it fulfils the demand and aspirations of all Malaysians.
“But certainly, we need a review on the entire policy which had been implemented by Umno and the Barisan Nasional government in the previous years,” he told reporters at the Parliament’s lobby, here today.
Azmin said the NEP would not be replaced entirely but if the needs arose, new policies would be introduced in line with the new direction of the Pakatan Harapan government.
Azmin said the Economic Planning Unit (EPU) would look into the matter and hoped that part of the new policies, if necessary, would be introduced during the country’s five year development plan, 11th Malaysian Plan (2016-2020) Mid-Term Review in November this year.
“Unlike before when you talk about mid-term review, you have to present the assessment and evaluation of past policies in the 11th Malaysian plan for the last two years.
“This time we just came in. We are going to introduce our new policies and new directions of Pakatan Harapan,” he said.
He also gave the assurance that the review of the policy or the introduction of new policies would continue to guarantee the rights of the Bumiputeras and more equitable to all races in Malaysia including in Sabah and Sarawak.
Asked about the objectives of the new policies, Azmin explained that the biggest challenges for the government now was to restore investors’ confidence and sustaining foreign direct investment which were the government’s main priority.
The NEP was introduced in 1970 aimed at reducing poverty and restructuring the society. – Bernama