Mahathir: New Economic Policy benefits non-Malays too
New Straits Times
Friday, Feb 24, 2012
KUALA LUMPUR - Former prime minister Tun Dr Mahathir Mohamad today defended his implementation of the New Economic Policy (NEP), saying different races were represented at all levels.
Dr Mahathir said the policy had not only benefitted the Malays and the Bumiputera but also had made the non-Malays into millionaires and billionaires.
"Why focus on Malay billionaires? The NEP, different races are represented. People only mention the few Malays who became millionaires..there are also other races who became millionaires during my time."
"For example, my good friend, recently retired Berjaya chairman Tan Sri Vincent Tan, Hong Kong-based Robert Kuok and T. Ananda Krishnan became multi-billionaires during my time when the NEP was being implemented.
"Those, who got rich during my term as prime minister, did so because they had the capacity," he said in response to Gua Musang Member of Parliament Tengku Razaleigh Hamzah's statement that the NEP had only benefitted the Malay capitalist.
He said although the NEP's results were not all as expected, it had helped the Malays.
"The NEP was created to address poverty and to raise the level of Malay participation in the economy. It was intended for all Malaysians, and not just for the Malays or Bumiputeras," said Dr Mahathir who was also former finance minister.
He said more than 500,000 Malays were given scholarships under Permodalan Nasional Berhad (PNB), and more than nine million Bumiputeras own shares in companies which they did not own.
"He (Tengku Razaleigh) should know as he was in charge of PNB," he said.
Earlier in his speech at the Youth Leadership Transformation: Anticipating Challanges Vision 2020 organised by the Youth and Sports Ministry, Dr Mahathir said leaders, who only use their followers to fulfill their ambitions, would ultimately failed in ruling the country.
There are leaders in the country who create organisations and have followers for the sake of using them to accomplish their ambitions by taking over Putrajaya," he said.
Dr Mahathir said these followers, became the tools for these leaders who does not care about their welfare except for his or her own gain.
He added it was all about doing the right thing and avoiding actions or decisions that were damaging or a barrier to the progress of the people.
"When the followers knew they were used, they will rise and go against the government. That happened in the Middle East where they bring down their leaders," he said.
New Straits Times
Friday, Feb 24, 2012
KUALA LUMPUR - Former prime minister Tun Dr Mahathir Mohamad today defended his implementation of the New Economic Policy (NEP), saying different races were represented at all levels.
Dr Mahathir said the policy had not only benefitted the Malays and the Bumiputera but also had made the non-Malays into millionaires and billionaires.
"Why focus on Malay billionaires? The NEP, different races are represented. People only mention the few Malays who became millionaires..there are also other races who became millionaires during my time."
"For example, my good friend, recently retired Berjaya chairman Tan Sri Vincent Tan, Hong Kong-based Robert Kuok and T. Ananda Krishnan became multi-billionaires during my time when the NEP was being implemented.
"Those, who got rich during my term as prime minister, did so because they had the capacity," he said in response to Gua Musang Member of Parliament Tengku Razaleigh Hamzah's statement that the NEP had only benefitted the Malay capitalist.
He said although the NEP's results were not all as expected, it had helped the Malays.
"The NEP was created to address poverty and to raise the level of Malay participation in the economy. It was intended for all Malaysians, and not just for the Malays or Bumiputeras," said Dr Mahathir who was also former finance minister.
He said more than 500,000 Malays were given scholarships under Permodalan Nasional Berhad (PNB), and more than nine million Bumiputeras own shares in companies which they did not own.
"He (Tengku Razaleigh) should know as he was in charge of PNB," he said.
Earlier in his speech at the Youth Leadership Transformation: Anticipating Challanges Vision 2020 organised by the Youth and Sports Ministry, Dr Mahathir said leaders, who only use their followers to fulfill their ambitions, would ultimately failed in ruling the country.
There are leaders in the country who create organisations and have followers for the sake of using them to accomplish their ambitions by taking over Putrajaya," he said.
Dr Mahathir said these followers, became the tools for these leaders who does not care about their welfare except for his or her own gain.
He added it was all about doing the right thing and avoiding actions or decisions that were damaging or a barrier to the progress of the people.
"When the followers knew they were used, they will rise and go against the government. That happened in the Middle East where they bring down their leaders," he said.
