Shared Prosperity of PH good wine in new bottle?
Published on: Sunday, September 22, 2019
By: Datuk John Lo
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PH should give full details of “Shared Prosperity 2030”. We all know what has gone wrong in the past as it is the reason that Malaysians have gifted the mandate to the PH government at GE14. Continue beating the dead horse [wrong deeds of previous government] is not the answer. Admittedly, PH has done a fair bit in righting many things up to now.
However, on economic matters, Malaysians have been waiting for full implementation of the “New Malaysia” in its manifesto since GE14. The details have been coming in “drips and drabs” and at times, incoherent and conflicting manner. And now, here is this “Shared Prosperity 2030”. How will “Shared Prosperity 2030” dovetail with New Malaysia?
Is it part of New Malaysia or New Malaysia part of it? Or is it different and separate altogether? Up to now, Tun M has been able to announce “generalities” without specifics on implementations and policies, financial requirements and who should do what.
Lack of a PH economic model. The above confusion has arisen because PH has yet to produce its own complete economic model since GE14 which is almost 1.5 years ago. Who is responsible for drawing up this economic model? Is it the Ministry of Finance or the Ministry of Economic Affairs? How will New Malaysia and “Shared Prosperity 2030” fit into this economic model?
A well-defined PH economic model will provide much needed clarity on PH’s economic direction for Malaysians to appreciate its intention. As it is now, much effort is spent on guessing and speculation. It is time for PH to get its act together.
The absence of an economic model since GE14 indicates some serious short comings in PH’s organisational abilities in economic management.
Political will and courage. Don’t be like Najib. He has produced a really wonderful plan when he first ascended to office of PM, only to fail in its implementation. He succumbed and surrendered to economic war lords and political expediencies.
The rest is history. The last PH announcement on “Shared Prosperity 2030” [even without much needed details] is exciting. The only worry is the lack of political will and courage to see it through. The proof of this PH’s “Shared Prosperity 2030” pudding is in the details.
Will and courage for what? Some hereunder fundamental issues that will call for PH’s will and courage.
[a] How to dissuade those who don’t deserve help to ditch their demand for rights and privileges? This is the biggest challenge. A great number of millionaires or even billionaires are the biggest recipients of “special treatments” like monopolies, getting away free in corruption, special favours for government contracts and procurements.
Next in line are many professionals and graduates who are already well established in their respective professions. Why can’t they be weaned off rights and privileges? These people are consuming tons of money which should be channelled to where it is needed most. Not to make the fat cats fatter! This will help to narrow the gap between the rich and the poor which is one of the objectives of “Shared Prosperity 2030”.
It is these “economic war lords” who don’t deserve help are making the most noise, often resorting to racist arguments to support their demands. This was Najib’s failure. Will this be PH’s too?
[b] How to infuse competitiveness in the Malaysian economy? This is the other ugly twin to [a] because there is a general unwillingness/failure to compete in Malaysian society because the Federal Government can never stop shielding them from competition. Instead of making efforts to compete effectively, Malaysians would find ways and means to avoid competition, using short cuts, short change, bribe and begging for politicians’ support instead of embracing competition.
This being the case, how can we compete with other nations for global business? Will PH have the political courage to wipe all these away and start a new era of unprecedented economic development? Will PH be brave to tell all Malaysians that it will select and appoint only the best and most capable to key positions? If PH can be brave on these 2 points, Malaysia will immediately release a tremendous competitive energy and embark on acquiring 1st world developed status, income gap will narrow and a united Malaysian nation will emerge.
[c] How to restructure Malaysian economy? Laudable intention of the PH government to embrace high tec and 4th industrial revolution. This will require very extensive economic restructuring as we have been over dependent on oil/gas and palm oil. Our electronic chip industry is also dependent on foreign investment and know-how. There is little home-grown component here. The restructuring as envisaged by PH will be very painful across the spectrum of Malaysian society, especially those with entrenched interest. There must be clear policies and strong will in restructure implementation to keep this on target. Political weaknesses will be the “death knell” to PH’s efforts.
[d] Narrowing the gap between rural poor and urban rich? Because of very poor implementation, greed and corruption in the Malaysian system, the rich have become richer and poor much poorer. If PH does not have the political will to do away with economic “fat cats”, “sweat heart deals” and corruptions, the poor will continue to stay poor. This gap can only grow wider.
[e]Education is the long term solution. Political control/interference and refusing to put the best and most able to take charge in education have seen the decline in education. Our qualifications, like medical degrees, are no longer recognized in most of the advance countries. In spite of Tun M’s insistence, teaching of math and science has been relegated to the backburner. Malaysian education does little to equip our young to compete and progress. We are failing in English, maths, science, languages with economic values like Chinese, Japanese.
Some bench marks must be reset for all students like no more lowering passing mark, no preference for entry into universities, education loans must be repaid, no endless chances to be given. They have to be taught nothing is free.
They can get free education, free scholarships and many other freebies because someone else is paying for them. PH must have courage to reset these basic values and drag them into 21st century economic reality.
Our education system cannot produce world class engineers, computer scientists, mathematicians etc, why bother with “flying car”?
Only a world class education can power Malaysia ahead towards high income status. Present standard? No way. No ill will intended and no apology given as it is a fact.
Don’t compete with Umno/PAS. The charter that Umno/PAS have just signed has little economic sense. Their intention is clear—- race and religion. PH’s biggest failure will be to fall into the trap in competing with UMNO/PAS on these 2 issues as Malaysian majority wants economic progress for themselves and their children. PH should and must stay on course on delivering its manifesto promises. Need I remind PH that you’re in government, so govern, don’t go off tangent to PH’s core philosophy of transforming Malaysia into a economically strong nation. UMNO/PAS are in opposition, so they can talk all they want. Their mission is to destabilise PH. This is Malaysian style of confrontational democracy. Most Malaysians will see through their antics if they cannot prove their creditability.
What of our State of Sabah in “Shared Prosperity 2030”? Like I have said often times, we must stand united as Sabahans and make it very clear to PH central leadership that we want our equitable and statutory development funds, nothing less nothing more. PH has started rather badly when Lim Guan Eng, soon after GE14 victory, said he won’t pay us the 40pc share of revenue and 20pc oil/gas royalty. Again, he has said it on 13 September 2019. This is bad faith and leave a very bitter taste in our collective mouth when the federal government has been announcing a slew of multi-billion developments in W Malaysia. So far, election promises and statutory obligations have NO meaning for Sabahans. When it comes to fighting the newly signed UMNO/PAS charter, LGE has asked us to take the lead! Money we are last, fighting he wants to push us to the forefront to face the bullets. He is being very smart but Sabahans are not stupid. UMNO/PAS is a W Malaysian problem for PH. I want to say this to him —-pay us the money owed to Sabah [including arrears!] before we consider fighting for you!
https://www.theedgemarkets.com/article/sabah-sarawak-oil-royalty-promises-stymied-legacy-issues-pcE2pc80pc94-lim-guan-eng
https://www.freemalaysiatoday.com/category/nation/2019/09/15/reject-racist-policies-guan-eng-tells-east-malaysians-after-umno-pas-charter/
For certain, I am in full support of this “Shared Prosperity 2030” as a concept as it makes a lot more sense than the UMNO/PAS charter except with the above caveats because PH has not presented it as a fully developed model with sufficient working details. I am particularly attracted by PH’s idea on inclusiveness, its willingness to modernize Malaysian economy by using high tech. My only worry is the PH federal leaders’ tendency to “short change” Sabah in financial matters. Sabahans must remain alert and wary at all times.
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