Sunday, March 14, 2010

Najib to announce NEM in two stages

By Adib Zalkapli
PUTRAJAYA, March 11 —Prime Minister Datuk Seri Najib Razak today said the New Economic Model (NEM) will be announced in two stages, dismissing the speculation that it has been postponed.

Najib said it will be launched on March 30 during the Invest Malaysia conference and confirmed the second announcement will be made together with the 10th Malaysia Plan.

“We will make the announcement, but it will be an announcement in two stages,” he told reporters here.

“RM-10 and slightly after RM-10, depending on the process we want to engage all stakeholders,” said Najib when asked to confirm if the second announcement will be incorporated with the 10th Malaysia Plan.

Najib, however, refused to give details of the announcement.

“Wait. First, don’t jump the gun. Otherwise I will be speaking prematurely. I don’t want to let the cat out of the bag. Otherwise I will be like Malaysian Insider,” he said.

The Malaysian Insider reported recently that the government decided to postpone the announcement after it received feedback from various quarters including the Malay nationalist group Perkasa and the Malay Consultative Council (MPM).

Perkasa, a member of MPM, is worried that the NEM will increase the monopoly of the country’s economy by the Chinese community.

The NEM was drafted to turn Malaysia into a high-income nation based on innovation and creativity.

The National Economic Advisory Council (NEAC), chaired by Tan Sri Amirsham Abdul Aziz, had briefed the Cabinet for the second time on March 1, days after engaging with several quarters on various issues related to the NEM.

Deputy Prime Minister Tan Sri Muhyiddin Yassin stressed last weekend that the government will not only consider the interest of the Malays but other communities as well in drafting the NEM.

NEM is one of the promises made by Najib when he became Prime Minister in April last year.

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