The New Economic Model (NEM) will not abolish bumiputera special rights, but will lay more stress on inter-communal cooperation, the Dewan Rakyat was told today.
Minister in the Prime Minister's Department Mohamed Nazri Abdul Aziz said such cooperation will be on political aspects and business promotions.
If what Nazri said is true the government should not call the much anticipated plan, the New Economic Model.
There is no economic in the model but only politics and promotions. UMNO's inability to address serious socio-economic issues will be severely tested when the NEM is announced by the PM at the end of March.
I had warned that NEM may be a kiss of life or death to Najib's political career. In the past, initiatives to foster better inter-communal cooperation in the economy had failed largely due to the abuse of NEP.
An equal business partnership can only be fostered through value added and synergistic relationship. Sadly, a large number of inter-communal relations were "Ali Baba" centric. Non-Bumiputera businessmen were attracted to build relations with Bumiputera businessmen who had been given NEP privileges by the government.
Hence, what Nazri mentioned about building inter-communal cooperation cannot work and prosper if there is no emphasis on real partnership.
My expectation for NEM to turn out something real and sustainable for the economy is reduced to a rock bottom low after reading what Nazri had said in the parliament.
With such a leadership mentality, be prepared for more slogans and empty talks. Don't hope for more jobs, more opportunities and a more dynamic economy.