Wednesday, April 15, 2009
Explaining the National Economic Policy
NEP, one of the double-edged swords in Malaysian political landscape, champion it and you lose the support for the non-Malays, abandon it and the Malays shirk away. What is the right balance? No one knows. However, we cannot dismiss the fact that the policy has increased Malay holdings in the market up to 19%, increased the number of Malay professionals, reduce poverty through multiple agencies created under the purview of NEP, creation of universities and so on. Tan Sri Sulaiman Mahbob argues that the policy, although perceived by many as benefitting the Malays only, benefits all in the context of project distribution and eradicating poverty. When projects are given out by the government, because the chinese holds a major stake in the construction business and supplies, not only the malay companies given the award would benefit, but the spill over effect reaches others.