Dr Mahathir ramblings on the 10th Malaysia Plan on RTM 1 live

Posted on July 9, 2010

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Forum Rancangan Malaysia Ke-Sepuluh Kita ( RMK-10)

8 Jul : The 3rd series forum on the 10 th Malaysia Plan was telecast live on RTM1 . The event was organised by the Ministry of Information, Communication and Culture and was held at the Putra World Trade Centre. Our ex Prime Minister,  Dr Mahathir gave his comments about the plan and various other issues . There are excerpts of what he said :

– This 10th  Malaysia Plan launched by present Prime Minister Datuk Seri Najib  if implemented properly is better than the New Economic Model ( NEM ) . It will offset the unequal wealth distribution among the people of the country. Before the implementation of the New Economic Policy ( NEP ), he recalled that the uneven distribution of wealth among the different races had brought about the racial clashes in May 1969. In 1971, after the NEP was implemented the country had moved on progressively with no major racial issues arising.

– The bumiputra agenda in RMK-10 is not racist but instead will provide equal opportunity to all races to enjoy the prosperity of the country. To say it is racist is incorrect as the emphasis is on peace among the races and reducing the difference between the rich and poor  to avoid the repeat of 1969. The NEP had brought Malaysia forward with a growing economy and ability to compete with other countries. The bumiputras must seize the opportunity given by the government and should be wise in good planning to be on par with the other races. He said ” ”Tujuan kita menumpu kepada Bumiputera bukan kita untuk mengambil atau merampas hak yang kaya. Kita bukan minta sama rata tetapi kita minta 30 peratus sedangkan kita 60 peratus di negara ini”. The bumiputras can compete globally but they must be smart planners and have a controlled appetite.

– Malaysia can achieve Vision 2020 of becoming a developed nation if several development and economic strategies were changed.
The world financial crisis and the country’s internal crisis in 1997 and 1998 had to a certain extent hindered national economic growth.
He said “In order to achieve Vision 2020, the country must attain an economic growth of seven% each year for a period of 30 years,”
The development and economic strategies that needed to be changed must first be discussed in detail to determine which strategy could stimulate bigger growth.

– The role of government-linked companies (GLCs), must be reviewed to find out whether they are still serving their original purpose
“We have to find out. Obviously many people are not happy with what the GLCs are doing.
“We seem to be copying Singapore all the time,”
The role of GLCs have changed from their original purpose, he said. In the past, there were no GLCs, Khazanah and PNB were formed to safeguard Bumiputera shares, he said.
“When we gave shares to Bumiputera, they sold their shares to make profit, So, we formed PNB to save their shares in an organisation in the form of unit trust.
“Khazanah meanwhile was formed to keep all the shares bought by Bumiputeras to ensure that the shares allocated to Bumiputeras do not go missing.
“The equity held by Khazanah was the reason that made the 20% Bumiputera equity a reality,” he said.
Meanwhile, on the Vision 2020, he said it could be difficult to achieve given the current “internal and external problems.”
However, it could be achieved if there is a change in strategy.

Comment : What Dr Mahathir had said is nothing new. He is just repeating and regurgitating what he had always harped. This time it was only on a different setting – a Live telecast by RTM1 to the public. He failed to mention ( or he purposely do not want to ) that whatever wealth distribution plan the government had implemented only benefit a few and these few are always those  politically aligned to UMNO. I see no purpose that he was interviewed other than just giving him face and a chance to appear nationwide on TV.

Link : www.umno-online.com