NEP forever
Feb 19th, 2007 by Tian
“Continue with NEP!”
That was PM Abdullah’s Chinese New Year gift to Malaysia. On 18 February Pak Lah was interviewed by Al Jazeera to talk about his vision.
I normally have no access to Astro. In fact, I don’t watch TV at all. It happened that I was back in my hometown Melaka to have my reunion with family on Chinese New Year eve. By chance, I caught the last 5 minutes of Pak Lah’s interview on Al Jazeera. He was grilled by the program host Teymoor Nibili on the NEP. The journalist quoted Abdullah’s own word describing the NEP as a “crutch”. Abdullah had to say that eventually the crutch has to be removed.
The interviewer pressed for a timeframe when the NEP would be ended. Pak Lah said the benchmark is the year 2020. He said, the government will evaluate in 2020 if the bumiputras have achieved the target of 30% equity ownership, the NEP maybe removed.
2020? The NEP will go on for another 13 years, and will be reviewed based on the equity distribution. Who knows the government may again claim that bumiputra equities have not reached the target?
Even assuming the current government figure is correct, viz. bumiputras possess only 18% share of the wealth. PM Abdullah has repeatedly refused a thoroughly and objectively study the effectiveness of the NEP. There is no guarantee that without reforming or abolishing the policy, more equitable distribution of wealth can be achieved through the NEP.
Resisting louder and louder voices opposing the NEP, the PM is assuring that the failed policy will continue, at least for another 13 years if not till the end the of world.
It sounds like Pak Lah is telling his supporters—don’t worry, the NEP is forever. Dasar Economi Baru sampai khiamat!