Oddbean

Malaysia should get rid of New Economic Policy, says former minister Idris Jala ========== Former minister Datuk Seri Idris Jala suggests that Malaysia should replace the New Economic Policy (NEP) with a more inclusive framework that helps the poor regardless of race and religion. The NEP, introduced in 1971, aimed to reduce ethnic inequalities and eradicate poverty by promoting Bumiputera participation in higher education and enterprise management. Idris believes that a new policy should provide equal affirmative action for all individuals in the B40 category, regardless of their race or religion. He also emphasizes the need for radical changes to escape the middle-income trap and attract Malaysians living abroad to return home. Idris was previously a minister in the Prime Minister's Department and the CEO of the Performance Management and Delivery Unit (Pemandu) from 2009 to 2015, leading the Economic Transformation Programme (ETP) to make Malaysia a high-income country by 2020. However, the depreciation of the ringgit prevented Malaysia from reaching high-income status by 2015. In 2022, Malaysia's gross national income (GNI) per capita was US$11,830, still lower than the World Bank's definition for high-income economies of US$13,845. #Malaysia #NewEconomicPolicy #InclusiveFramework #Poverty #Race #Religion #B40Category #MiddleincomeTrap #AffirmativeAction #EconomicTransformationProgramme #HighincomeCountry #GrossNationalIncome https://theedgemalaysia.com/node/715057