Dr. Mahathir didn’t seem to be worried about the situation. It was about a year away from the end of the First Outline Perspective Plan (OPP), the twenty year timeframe from 1971 through to 1990, marking the formal end of the New Economic Policy, that was mandated by the National Consultative Council in 1970 to be implemented over the twenty years. The national consensus was to restructure Malaysian society and eradicate poverty on the back of the May 13th Incident. At this time the government was focussed on consolidating the nation’s recovery from economic recession of 1985.
Tuesday, 21 July 2015
Wednesday, 15 July 2015
Achieving Malaysia's Potential
Tengku Razaleigh Hamzah
14 July 2015
Kuala Lumpur - Today, 14 July 2015, marks the 40th day of the passing of my dear wife. As I overcome the sadness of her absence, I feel freer now to reflect upon and address the goings on in Malaysia during the last several months.
2. We are being constantly bombarded with an overdose of news about the sorry state of our national finance. Controversies abound and purported mega financial scandals are being discussed and gossipped over social media. Gripes about this situation are making the round. Not least is the dire strait that our sovereign fund, 1MDB, finds itself in.
3. However, the reality is that all these remain mere talk and nothing has changed. In effect, currently there is much confusion in the people's minds which have to process statements whose veracity is suspect and might not reflect the true situation.
4. We earnestly hope that there is still honour left in our beloved country and that there are honourable men who have the relevant facts to put the matter to rest. They should stand fast by their principles and take the moral high ground to assist in the resolution of the problem. If this were the case, surely there is no necessity for us to waste time instituting inquiries and investigations. Knowing the facts and the problem not telling the truth is not an option.
5. Such an action would enable the country to restore our battered and damaged image and dignity within the world community. This is essential in our effort to rebuild the confidence that was painstakingly developed by our founding fathers.
6. Most importantly, we must stay focussed on the more immediate concern facing our people; that is, the economic and financial difficulties due to the shrinking Ringgit and the indifferent take-home salaries and wages made worse by the spiraling cost of such essentials such as motor fuel and burdensome impositions such as the GST. Given the crisis we are facing, it would not be unreasonable to defer the GST as it has a negative impact on ordinary people. To mitigate the loss of revenue, it could be replaced by some other taxation. We must alleviate the hardship of the people in their trying to make ends meet. We must address how the ever increasing living cost can be mitigated and overcome.
7. It is undeniable that life is a constant struggle for the many. They worry about the future of their children and grandchildren. They fret about the continuously deteriorating quality of life. Indeed they deserve better. A particular socio-economic issue creating much worry among the people is the lack of a financial safety net to provide economic security for retirees.
8. Worries about unemployable graduates must necessarily lead us to the type of education that we are giving to our children. This does not quite prepare them for employment. What should we do? Perhaps the country could adopt a national education policy that can withstand the test of time.
9. We must, therefore, stop bickering, squabbling and politicking. We must close ranks and come together to achieve the rich potential that has always been our feature. We should consider a total overhaul of the system.
On that note, I wish every Malaysian "Selamat Hari Raya Aidil Fitri" and happy holiday ahead.
Tengku Razaleigh Hamzah
Member of Parliament Gua Musang
Kuala Lumpur
14th July 2015
27 Ramadhan 1436H
Monday, 13 July 2015
Greece Reaches Deal with Creditors, Avoids Euro Exit
By Pan Pylas and Raf Casert, Associated Press
Associated Press
Published on 13 June 2015
BRUSSELS (AP) -- After months of acrimony, Greece finally clinched a bailout agreement with its European creditors on Monday that will, if implemented, secure the country's place in the euro and avoid financial collapse.
The terms of the deal, however, will be painful both for Greeks and their radical left-led government, which since its election in January had vowed to stand up to the creditors and reject the budget cuts they have been demanding.
Before it can get 85 billion euros ($95.07 billion) in bailout cash and support for its banks to reopen, the Greek government will have to pass a raft of austerity measures that include sales tax increases, reforms to pensions, and labor market reforms.
Greece will be on a tight timetable to implement its reforms — a reflection of how little its creditors trust the government to honor a deal. Greek Prime Minister Alexis Tsipras infuriated his European partners last month when he called for a popular vote against economic reforms the creditors has proposed.
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