(MalaysianInsider) SINGAPORE, May 20 — Datuk Anwar Ibrahim today gave a glimpse of the policy which will replace the New Economic Policy if his Pakatan Rakyat coalition comes to power in Malaysia.
He said that affirmative action will be part of the New Economic Agenda and assured Bumiputeras that their rights will not be compromised. Ostentatious projects will be shelved. Public expenditure will be focused on infrastructure such as transportation, health and education. Rent-seeking activities will be kept at bay. Predatory marketing will be outlawed.
A more comprehensive regulatory structure will be crafted with the bulk of the input from people actually in the business, he added.
Anwar said: "All this may raise the alarm that this is populist agenda which encroaches upon free market principles. On the contrary, the New Agenda aims at taking Malaysia to the status of a developed nation that is built on the people’s trust with accountability, transparency and good governance.
"Our policy is simple and straightforward enough. We do not intend to do away with the affirmative action principles outlined in the NEP, but we will apply them across the board making them available for all races on a needs basis.
"We are committed to building a new system that is just and fair. In this new order, no one will be left behind on account of race or religion."
The de facto leader of the Opposition was speaking before a gathering of top regional corporate figures in Singapore and used this speaking engagement to persuade foreign investors that he has a grasp of macro economic issues that Malaysia needs to confront.
One of the key concerns about Pakatan Rakyat outside the country is this: Whether the collection of politicians schooled in opposition politics can govern one of the top trading nations in the world? Anwar attempted to allay these concerns.
He said that the New Economic Agenda recognises the multi-ethnic composition of Malaysia and is aimed at fostering and nurturing a plural and tolerant society.
"After all, that was the catalyst for the formation of our nation pursuant to a social contract to build a nation that is harmonious, just and fair. That cannot be realised without a New Agenda relevant and just to all. The Bumiputera community is ready for this change because it will continue to be firmly grounded on affirmative action to help the poor and the marginalised.
"The fear that such an agenda will erode the rights of the Bumiputera is but the consequence of the racist chanting of some Umno leaders who will stand to be the biggest losers in the new agenda. So, fearing the prospect of their corrupt sources of income being reduced if not altogether eliminated they resort to stoking the fires of racist sentiments through the mainstream media controlled by them," he said.
Over the past two weeks, some 200 Malay non-governmental organisations and former prime minister Tun Dr Mahathir Mohamad have voiced their concern over the loss of political power for the Malays since Election 2008 changed the landscape.
Anwar had a different take on the change taking place. "To my mind, the eighth of March, 2008 is the metaphor for the birth of a new era where the mill stone of race and religion which had been our burden to bear for the last fifty years has finally been shattered."
He assured investors that the New Economic Agenda was crafted with the aim of developing Malaysia into a prosperous and dynamic society competitive not just in the region, but in the world.
He quoted a recent survey which showed that young Malaysians were now open to more multi-racial socio-economic policies as opposed to race-based ones.
"The general consensus is that affirmative action should be given to the poor and the marginalised regardless of race or religion. Notions of social dominance and racial superiority find no resonance among the people except for those diehards still bigoted over ancient and archaic forms of political ideology.
"That is why our New Agenda is not purely economic. Its viability depends very much on observing the principles of democracy, socio-economic justice, equal economic opportunities and religious freedom. There is no contradiction in talking about affirmative action while waving the banner of equal opportunity because a level playing field can never be level unless and until the poor and the marginalised are taken out of the vicious cycle," he said.
Anwar said that the Malaysian economy was not in the pink of health. Singapore’s per capita income was five times that of Malaysia’s and the gross inequality in income distribution was second only to Papua New Guinea in the region. Also, there had been a serious decline in foreign direct investment into the country.
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