Tuesday, August 23, 2005

The New Economy Policy

I think the politicians in Malaysia are running out of ideas.Why is everybody talking about bringing back the New Economy Policy? And some wise guys suggested to call it by a new name--New National Agenda. Shakespere said,"a rose by any other name is as sweet." Giantkite says,"a NEP by any other name is as rotten." Looking closely at the orignal noble objective of the NEP is to improve the bumiputras' share in the country's economy,then it should not have being named as New Economy Policy in the first place.The name implies at changing the economy to suit the objective,which is wrong in logics.What should be changed is the ability,the mindset of the bumiputras,so the befitting name should be New Bumiputra Policy,New Bumi Outlook,New Mindset Agenda,etc,etc... The first person who proposed the NEP was a genius,it was so noble, all the Bumi loved it.The non-bumi could not object it because it is only fair that the idea be given a chance to prove itself.NOw there can be heard voices that the NEP did not achieve its objective(in plain words,it flops).The loudest ones are coming from the bumi,particularly the UMNO Youth.Now,if an idea fails,why stick to it still?If it has being quietly put a side to avoid embarassments why stir it up again? Unless that person has serious problems with his brain! The biggest failure of NEP being that while a handful of bumi are filthy rich,but the majarority of the bumi remain as before.The non-bumi has surrended more the 30% asked for,the sectors that command big bucks like Telecommunications,Petrolium & Gas,Finance,Automobiles are all in the hands of the bumi now.But are the bumi happy? You tell me. And there is a minister in the Prime Minister's ministry calling for a new system wherein bumi to be appointed as top executives in non-bumi owned corporations in order to learn the business skills from the non-bumi,can you beat that?! Apparently no one told him that you have to start from the bottom and rise slowly to top in order to fully understand how a business entity functions.At high positions all you learn is how to entertain,to feast,drink and golf with clients.Real business is more than that.

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