Hornbill Unleashed

April 20, 2017

In new economic roadmap, PM seeks to boost Bumi welfare, income

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

Prime Minister Datuk Seri Najib Razak speaks during the Bumiputera 2.0 Economic Transformation event in Kuala Lumpur April 19, 2017. — Picture by Yusof Mat IsaPrime Minister Datuk Seri Najib Razak today launched the second edition of the Bumiputera Economic Transformation Roadmap to improve the wellbeing and income levels of the country’s largest ethnic community.

Najib stressed that efforts to uplift the Bumiputera community should extend past economic measures, when introducing the roadmap dubbed “Transformasi Kesejahteraan Bumiputera” or Bumiputera Wellbeing Transformation.

“More important and going further, this Bumiputera Wellbeing Transformation, will cover all aspects of wellbeing such as education, health, social and culture, living in comfortable and dynamic environment,” he said to a 1,500-strong crowd at the Kuala Lumpur Convention Centre here.

Najib listed out five key transformations for the Bumiputera community under the roadmap, including a shift from only measuring the community’s absolute stake in the economy.

The PM said the benchmark for Bumiputera wellbeing must evolve from the New Economic Policy’s (NEP) focus on Bumiputera equity size in the corporate sector to more diverse factors such as their average monthly wages and the number of qualified professionals.

The new benchmark was also more in line with the government’s planned shift under the National Transformation 2050 (TN50), he explained.

“For example, the government’s diligent efforts all this is bearing fruit, where the average Bumiputera household income has increased from RM3,624 in 2009 to RM5,548 in 2014, which is 53 per cent (improvement),” he said.

Another transformation for the Bumiputera community would be strengthening their human capital to be the top contributor of Malaysia’s economy and global achievers in every field.

“It is my hope and dream to see we produce world class sportsmen, more world class scientists, artists, novelists and InsyaAllah, one day, a Nobel Prize winner,” he said.

Najib also envisioned the Bumiputera community climbing the social and economic ladder, with improved economic status and living standards.

He singled out the Digital Free Trade Zone that he launched on March 23, expressing hope that it would create a “level-playing field” for the Bumiputera community to compete with others.

The two other key transformations required are the enhancing of the Bumiputera community’s ability to compete as well as helping small Bumiputera firms to grow in stature and reach.

Najib launched the first roadmap on November 26, 2011 and the Bumiputera Economic Empowerment Agenda on September 14, 2013.

The NEP was launched by second prime minister the late Tun Abdul Razak Hussein, who is also Najib’s father, in 1971 to close the income gap between ethnic groups by implementing affirmative action for the Bumiputera community.

Speaking to the media later, Bumiputera Action Steering Unit (Teraju) chief executive officer Datuk Husni Salleh confirmed that the initiatives and pilot programmes introduced under the first Bumiputera Economic Transformation Roadmap would not be discontinued, but expanded and replicated.

“This is realignment of the Bumiputera agenda, will take into account of the wellbeing of the people; not just about the economy, about making people richer and stuff like that; but we look into the overall quality of life,” he said.

Husni did not provide any specific figures for the targets and goals for better Bumiputera wellbeing under the second roadmap, saying that these will be released from time to time.

“Income, property ownership, number of professionals… these will be the new targets coming up, so we will release them from time to time what will be the new targets for each one of them after we have actually gone through.

“This is the concept, this is the roadmap; so whatever programmes that we do will be within the boundaries of this new roadmap. The last time we came out with BETR 1.0, we also didn’t put specific targets,” he said, referring to the first roadmap by its initials.


Source : Ida Lim @ Malay Mail Online


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3 Comments »

  1. What we have seen was the largest wealth transformation for Najib’s family since he became Prime Minister. Every cash rich agencies and institutions had been milked by Najib and Rosmah through programmes Initiated and involving his wife.

    Comment by Sabri Yaman — April 21, 2017 @ 4:51 PM | Reply

  2. Malaysia’s government emolument, comprising salaries, allowances and financial benefits, may rise to RM184 billion in 2027 from the estimated RM77.42 billion in 2017 due to an oversized workforce, The Edge Malaysia business and investment weekly reported.

    The Edge Malaysia, in its latest April 17 – 23 issue, reported that its forecast was based on the government’s emolument grow rates over the last 10 years.

    “We concede however that our projections are limited by the fact that there is no public data on the public-sector salary scale as well as the demographic structure for an indication of retirement and attrition rates.

    “Based on our modelling, Malaysian taxpayers can expect to pay RM184 billion for emoluments and RM63.9 billion for pensions a year by 2027. The question is, can Malaysia afford such a big bill for public-sector cost?” The Edge Malaysia reported.

    Quoting the government’s annual budget numbers, The Edge Malaysia reported that there were about 1.39 million full-time federal government employees in 2017 compared to some 1.31 million in 2013.

    The Edge Malaysia reported that the number would be larger if contract and casual workers were included. News reports quoted Second Finance Minister Datuk Seri Johari Abdul Ghani as saying Malaysia’s civil service-population ratio is at one civil servant to 19.37 people versus Singapore’s one to 71.4 and Indonesia’s one to 110.

    Comment by JH — April 21, 2017 @ 3:35 PM | Reply

  3. Is Malaysia under UMNO Baru controlled BN government really and truly a successful , progressive and high income nation? According to an idiotic federal minister from the most corrupted political party in the world, Noh Omar, the UMNO Baru controlled BN government had very limited funds and hence could only allocate funds for BN constituencies. This is not only a serious sign of BN stupidity but such desperate measure was a reflection that Malaysia, an oil exporting nation with rich natural resources was mismanaged by incompetent, inefficient , ineffective and corrupted government.

    Noh Omar is making a big mistake by punishing the urban and semi urban voters who had voted for Pakatan Harapan and who effectively contributed 90% of taxes collected by this incompetent, inefficient, ineffective and corrupted government. Statistics showed UMNO Baru controlled BN had won 80% of rural constituencies where the average income of the rural population was about RM600 per month. Only a clueless and corrupted government made desperate and idiotic decision to punish the goose that lay the golden eggs.

    Billions of education loans not collected. Billions of funds borrowed from public and Islamic institutions went missing and unaccounted for. Is it any suprise at all that UMNO Baru controlled BN government resorted to burdening the people with GST, removal of subsidies, increase in indirect taxes and depreciation of the ringgit due to trust deficits by foreign investors?

    Malaysians must vote out this highly corrupted, regressive, repressive, incompetent, inefficient, ineffective and irresponsible UMNO Baru controlled BN.

    Comment by Mata Kuching — April 20, 2017 @ 7:03 PM | Reply


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