Thursday, June 10, 2010

10MP v NEM

In the Prime Minister Datuk Seri Najib's speech today announcing the 10th Malaysia Plan (10MP), he said that "the 10MP has been formulated with various new approaches towards becoming a high income and high productivity economy, in line with the New Economic Model (NEM)."

However, there are many elements within the 10MP which are clearly either directly contradicts the principles of NEM or fails to take the principles into account. I haven't had time to write down my thoughts yet, both The Malaysian Insider and Malaysiakini have jotted down my comments earlier.

DAP claims 10MP contradicts NEM
By Adib ZalkapliJune 10, 2010

KUALA LUMPUR, June 10 — DAP lawmakers criticised today the Najib administration's 10th Malaysia Plan (10MP) blueprint for failing to reflect the prime minister's New Economic Model (NEM) framework unveiled in March.

“The most obvious contradiction is the fact that in the New Economic Model, it is clearly mentioned that everything is based on merit, competition and need whereas the 10MP very clearly inserted a chapter that says Bumis are to achieve and continue to target 30 per cent corporate equity and wealth as well as in property, jobs and so on,” said DAP publicity chief Tony Pua.

The NEM aims to transform the country into a high-income nation and is one of the Najib administration’s major agenda.

It was drawn up by the National Economic Action Council (NEAC), chaired by Tan Sri Amirsham A. Aziz.

When tabling the 10MP today, Najib had announced the formation of a high-level council to be chaired by him to plan, co-ordinate and monitor the implementation of the Bumiputera development agenda.

He also unveiled efforts to improve Bumiputera property ownership through Pelaburan Hartanah Bhd and redevelopment plans of Kampung Baru in the city centre to enable landowners to unlock the value of the property.

Pua told reporters that the announcement of mega projects with no emphasis on open tender also did not help in achieving NEM targets.

“In NEM, it has been expressly stated that there will be no tolerance for patronage, rent seeking and we'll be looking at the best proposals, best value for money, open tenders and so on but what we've seen so far is that projects are awarded on a direct basis to specific companies, cronies or otherwise,” said Pua.

“There is a big contradiction between what they say they want to do with the NEM and what is actually carried out with regards to the implementation of the 10MP,” he added.
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