The government’s much-touted New Economic Model (NEM) is the same “soulless” model of liberal-capitalism begin given a new coat of painting, said PAS president Abdul Hadi Awang.

In a scathing dismissal of Prime Minister Najib Abdul Razak’s new economic policy announced yesterday, Hadi said it was easy for any government to spout policies which “aim for the skies”.

                

anti ppsmi english language for math and science ceramah 230209 600 hadi awang But unless they are grounded in such fundamentals as transparency, socio-economic justice, the new economic policy will continue to perpetuate the flaws and imbalances inherited from previous administrations, he stressed.

“The country can have policies that aim for the skies, but without proper values engendered by those formulating and implementing the policies, it will still be mired in the liberal-capitalist system,” said Hadi in a statement.

“In the end, the changes will only be skin-deep rather than holistic,” he added.

Hadi cited the NEM’s stress on the private sector to serve the main driver of the economy will have an adverse effect on rural areas and widen the rural-urban gap.

“The NEM is a throwback to the concept of corporatisation and privatisation carried out by (ex-premier) Dr Mahathir (Mohamad), where the government progressively let go of its control in the public sector to the private sector.

“Despite government’s assurances, the record shows that letting go of its responsibilities gave rise to private monopolisation of the services sector, and ultimately affecting the rakyat’s welfare,” said Hadi.

The PAS leader said that while the aim of raising the per capita income from US$7,000 to US$15,000 per annum in 10 years is laudable, what is needed is accountability, a curb on the crime rates, the elimination of corruption and a more equitable economic system.  

Hadi also said the government’s continued disdain for the concepts of federalism and democracy will become a “time-bomb” that will ruin the people’s economic well-being.

“What has been happening is that when a state government is led by a party that is not part of the (BN-led) federal government, it will be oppressed economically and investments (into the state) will be stymied.

“The end result is that the said objective in looking after the people’s well-being is merely rhetorical niceties,” he said.

Think before selling to foreigners

            

Meanwhile, MAS’ Employees’ Union (MASEU) urged government-linked companies (GLCs) to study carefully before divesting their shares to foreign entities.

“GLCs are not solely investment arms of the government; they play an important role for the country,” said MASEU executive secretary Mustafar Maarof in a statement.

Divesting shares of GLCs such as Pos Malaysia, Tenaga Nasional, Telekom, Malaysia Airport and MAS to foreigners who have different business structures, management and operating styles may hamper the operations of GLCs, said Mustafar.

“We urge Khazanah Nasional to carry out comprehensive studies and research and talk to stakeholders and unions before making any decision (with regards to) divesting its shares.”

Najib said yesterday that Khazanah would divest its 32 percent controlling stake in Pos Malaysia.

Pos Malaysia's shares soared after the prime minister's announcement yesterday, moving up 19 sen, or 9.2 percent, to close at RM2.25, Business Times reported today.

Najib did not say if there were already buyers for the stake nor gave a time-line as to when the exercise would be completed.

Business Times

, however, said the among the bidders for the controlling stake include AirAsia boss Tony Fernandes’ Tune Group and DRB-Hicom.