Ibrahim says Pemandu has ‘hidden agenda’
Opening up the economy to foreign ownership is also an opposition idea, according to the Perkasa chief.
(Free Malaysia Today) – The government’s liberalisation efforts took another beating from influential Malay rights group Perkasa which warned today against opening up the economy to foreign ownership.
At the unveiling of Budget 2012, Prime Minister Najib Tun Razak announced the opening up 100 percent foreign ownership of 17 sub-sectors aimed at recapturing straying investments.
Perkasa president Ibrahim Ali, a staunch advocate of Mahathir-era protectionist policies, said the move would sideline Bumiputera businesses, adding that liberalisation is an opposition idea.
He also took a swipe at the Performance and Management Delivery Unit (Pemandu) for advocating the move to open the 17 sub-sectors.
Ibrahim, the independent Pasir Mas MP, in his speech during the Budget 2012 debate in the Dewan Rakyat, said Pemandu had a “hidden agenda” in promoting liberalisation.
“Liberalisation is an idea promoted by the opposition… the Malay Chamber of Commerce had even made a strong statement against it but it is not heeded.
“I urge the government not to listen to Pemandu because if it implements liberalisation (as advocated by Pemandu), the latter’s hidden agenda would take place,” he said.
Key sectors remain caged
Najib is trying to make liberalisation a key aspect of his New Economic Model (NEM) as he aims to resuscitate the country’s ailing economy.
Race-based affirmative action and Bumiputera protectionist policies have prompted capital flight and caused a deep drop in foreign investments, forcing Malaysia to play catch-up with its neighbours despite being Asean’s economic powerhouse once.
