Saturday, 17 February 2007

Believe It Or Not !: "NEP Will NOT Last Forever", Says the PM

From 'The Aisehman' -iNEPt : Read here for more

Background. Read here from The Star

Prime Minister Datuk Seri Abdullah Ahmad Badawi said the New Economic Policy (NEP) is not permanent and hopes its objectives will be met before 2020.

Once the objectives are met, there is no reason for the continuation of the policy. The faster we get to the objective, the faster we will be able to throw away the crutch,” he said.

Commentary by "The Aisehman":

".... A glimmer of hope?

You wish!

Even without going into the abuse of the NEP, the thinking behind Pak Lah’s hopes that the NEP’s objectives will be met before 2020 is flawed.

Why? Because it does NOT take into account global competition, and the factors that affect it, such as the increased mobility of labour, cross-border investments and trade liberalisation in general.

Our economy is a much more open economy than it was at the time of the NEP’s formulation.
Today, more than ever, we draw our lifeblood from the global economic system. And that system is not going to stop for anyone.

You know it. I know it. And believe it or not, even the top Umno leaders know it.

When these people speak of the NEP, they merely mouth throwaway, standard lines that they no longer have any real faith in. They say it without thinking.

That’s why they always sound stupid saying it.

But the shit keeps UMNO in power.
And that is the true function of the NEP today.

Any other benefits are purely incidental...."

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