Star Online - Academic questions Pakatan policy on GLCs:
KUALA LUMPUR: A well-known academic is claiming that political patronage and possible corruption of government-linked corporations (GLCs) has not been dismantled.
Instead, Institute for Democracy and Economic Affairs Senior Fellow Prof Dr Edmund Terence Gomez alleged that the GLCs have been shifted to the purvue of different ministries which are controlled by ex-Umno, ex-Umno-linked and current Parti Pribumi Bersatu Malaysia leaders.
Gomez said that in the run-up to the general election in May, Tun Dr Mahathir Mohamad had said that the Government has created a monster - the GLCs - which were responsible for political financing and he had promised that if he comes into power, he will reform them.
In the past, GLCs had been responsible for the practice of politics of political patronage, leakages and possible corruption, said Gomez.
"Why are they not discussing reforms of the GLCs?," he said during the Youth Economic Forum 2018 on Saturday.
In his talk Government in Business: Changes under PH, Gomez jokingly said that he needed to put a question mark to his topic, because he was uncertain if the issue of Government running businesses in the country has changed.
Gomez pointed out that under the previous administration, there was a large number of ministries that own GLCs, which are controlled by Cabinet ministers.
Among the big four ministries were the Prime Minister's Department and the Finance Ministry previously held by Datuk Seri Najib Tun Razak, the Rural and Regional Development Ministry previously held by Umno vice-president Datuk Seri Shafie Abdal (now Sabah Chief Minister) and then given to Datuk Seri Ismail Sabri Yaakob after a fall out between Shafie and Najib.
The Environment, Science and Technology was then held by former Minister Wilfred Madius Tangau, from Upko (now deputy Sabah Chief Minister), he said.
He then added that the Rural and Regional Development Minister post is currently held by Rina Harun of Parti Pribumi Bersatu Malaysia.
Gomez said that the first thing Dr Mahathir was expected to do was cut down on the number of ministries but instead, he created a new ministry called Economic Affairs Ministry and took many of GLCs under the Finance Ministry and transfer them to that ministry.
Gomez said that Dr Mahathir then took Khazanah Nasional out of the Finance Ministry and put it under the PM's Department.
"Why did the PM take Khazanah and put it under his own department?" he asked.
Instead, Institute for Democracy and Economic Affairs Senior Fellow Prof Dr Edmund Terence Gomez alleged that the GLCs have been shifted to the purvue of different ministries which are controlled by ex-Umno, ex-Umno-linked and current Parti Pribumi Bersatu Malaysia leaders.
Gomez said that in the run-up to the general election in May, Tun Dr Mahathir Mohamad had said that the Government has created a monster - the GLCs - which were responsible for political financing and he had promised that if he comes into power, he will reform them.
In the past, GLCs had been responsible for the practice of politics of political patronage, leakages and possible corruption, said Gomez.
"Why are they not discussing reforms of the GLCs?," he said during the Youth Economic Forum 2018 on Saturday.
In his talk Government in Business: Changes under PH, Gomez jokingly said that he needed to put a question mark to his topic, because he was uncertain if the issue of Government running businesses in the country has changed.
Gomez pointed out that under the previous administration, there was a large number of ministries that own GLCs, which are controlled by Cabinet ministers.
Among the big four ministries were the Prime Minister's Department and the Finance Ministry previously held by Datuk Seri Najib Tun Razak, the Rural and Regional Development Ministry previously held by Umno vice-president Datuk Seri Shafie Abdal (now Sabah Chief Minister) and then given to Datuk Seri Ismail Sabri Yaakob after a fall out between Shafie and Najib.
The Environment, Science and Technology was then held by former Minister Wilfred Madius Tangau, from Upko (now deputy Sabah Chief Minister), he said.
He then added that the Rural and Regional Development Minister post is currently held by Rina Harun of Parti Pribumi Bersatu Malaysia.
Gomez said that the first thing Dr Mahathir was expected to do was cut down on the number of ministries but instead, he created a new ministry called Economic Affairs Ministry and took many of GLCs under the Finance Ministry and transfer them to that ministry.
Gomez said that Dr Mahathir then took Khazanah Nasional out of the Finance Ministry and put it under the PM's Department.
"Why did the PM take Khazanah and put it under his own department?" he asked.
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no, you can't have Khazanah |
Gomez pointed out that the Pakatan Harapan manifesto also stated that politicians cannot be directors of GLCs but the new chairman of Khazanah is the PM, Dr Mahathir.
"By convention, it is the PM that is made chairman of Khazanah. But let's put that aside.
"By convention, the Finance Minister also sits on the board of Khazanah but the Finance Minister Lim Guan Eng was not appointed to Khazanah. It was Azmin Ali, Economics Affairs Minister," he said.
"By convention, it is the PM that is made chairman of Khazanah. But let's put that aside.
"By convention, the Finance Minister also sits on the board of Khazanah but the Finance Minister Lim Guan Eng was not appointed to Khazanah. It was Azmin Ali, Economics Affairs Minister," he said.
"Already, question marks are emerging," he said.
Gomez also expressed concerns that Former Finance Minister Daim Zainudin, CEP chairman had said that they were keeping the bumiputra policy and he said "This time, we are going to get it right."
"If you read the PH manifesto, it says the policy should be based on needs and not on race. This is supposed to be post-racial Malaysia.
"Why are we still having these debates?" he asked.
Gomez also expressed concerns that Former Finance Minister Daim Zainudin, CEP chairman had said that they were keeping the bumiputra policy and he said "This time, we are going to get it right."
"If you read the PH manifesto, it says the policy should be based on needs and not on race. This is supposed to be post-racial Malaysia.
"Why are we still having these debates?" he asked.
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thanks Uncle, we cannot afford to leave the GLCs unattended |
These GLCs were born and grew up to be monsters in 60 years and this academic thinks they can be reformed in 6 months? He knows but does not point out that all GLCs are currently infested with UMNO/BN cronies, from CEO/MD all the way down to the office boy. Try changing them all in 6 months. Just getting Nazir of CIMB to step down took 6 months.
ReplyDeleteSome academics are just that, academics. They have to try and say something that sounds clever in a public forum to justify their academic credentials. Put them in charge of actually implementing what they are saying and they will hee and haww.
TDM wanted to have LGE as FM. But to balance things out he created a Economics Affairs Ministry and put Azmin in charge. One DAP Chinese FM and one PKR Malay Economy Minister. Nothing wrong with that. 1MDB will never be repeated under this scenario. LGE checks Azmin, Azmin checks LGE. Check and Balance. Like the Dacing....Only Better. I'm Lovin' It.
"Some academics are just that, academics. They have to try and say something that sounds clever in a public forum to justify their academic credentials. Put them in charge of actually implementing what they are saying and they will hee and haww."
DeleteThis professor should take his questions straight to Mahathir for answers.
Prof. has been making many public statements and statements to the media related to findings published in his book - MINISTER OF FINANCE INCORPORATED - Ownership and Control of Corporate Malaysia, first impression in July 2017, second impression in September 2017, third impression in March 2018 and fourth impression in July 2018, this last being after the 9 May 2018 general elections.
In the first paragraph of Chapter 5 - Conclusion: The Implications, reads:-
"Malaysia's political economy has quietly undergone a major transition that has escaped public attention. Corporate power has shifted from UMNO and well-connected businessmen to the government. Huge business groups controlled by the government have emerged, as can be seen by the dominnace that a mere seven GLICs have over the corporate sector. During this transition, one extraordinary outcome was the removal of UMNO and the business associates of party leaders of publicly listed GLCs. UMNO now has direct equity of only one quoted company, the media-based Utusan Melayu, while no UMNO member fiugures as a major corporate player. A scant number of UMNO members are directors of these government-owned enterprises. These findings are particularly astonishing as UMNO remains a party riddled with money politics, patronage and rent seeking. The GLICs and the listed companies under their control are now led by well-credentialed, highly competent professionals with no involvement in the political system. These board pf directors of these companies are, however, responsible to the Minister of Finance."
The book is available from Gerakbudaya bookshop at RM45 but if you don't have a copy, you can watch the professor's presentation of its findings at his Sir John Monash lecture at the Monash University Malaysia campus on 6 July 2017.
https://www.youtube.com/watch?v=tH8cTV5cvLU
Given the timeframe short of a year before the May 2018 elections, the Minister of Finance referred to obviously was the old BN Minister of Finance but now we have a Pakatan Minister of Finance - i.e. Lim Guan Eng.
Now the professor is claiming that political patronage and possible corruption of government-linked corporations (GLCs) has not been dismantled.
Instead, he alleged that the GLCs have been shifted to the purvue of different ministries which are controlled by ex-Umno, ex-Umno-linked and current Parti Pribumi Bersatu Malaysia leaders.
So, whilst what he wrote in his book - "The GLICs and the listed companies under their control are now led by well-credentialed, highly competent professionals with no involvement in the political system." may well be true, he now alleges that control over these GLCs has "been shifted to the purvue of different ministries which are controlled by ex-Umno, ex-Umno-linked and current Parti Pribumi Bersatu Malaysia leaders."
Well, as the old saying goes, "The more things change, the more they remain the same."
And we also have a new system for corruption cases involving Ministers. AG can be former lawyers of the accused and take over the courts' role of letting them off the hook...
DeleteWakakakakaka111
To answer your question it is because the finance minister is a Cina Pukimak . Vile? how can it be when it was not considered as so previously?
ReplyDeleteWas it because it was written by an alter ego aka Julian Khoo ( wink wink RPK ) If yes do let us know when ur post are written by you or your new found avatar. I prefer if you just own all ur post and show some gonads. Coz its not as though you have a known identity , after all Ktmoc is anonymous enuff to hide behind.
Good......time for you to expose this cheebye motherfucker kaytee
Deletetold you once if I've told you a thousand times, that I did NOT fCk your mother so stop hoping I am your long lost father
DeleteBalls-breaker, seems you're like many on the Net, constantly haunted by and in dread of RPK's ghost, wakakaka
Deleteya loh, are of us are in deep paranoid dread of that depraved and vicious liar ! the more he imbibe his fav johnny walker, the more outrageous his lies and fake news....woooo, takut la...all of us cowering in hysterical fear...his pen is mightier than his matsalleh fist, wakakakka.
Deletesee how he has provided succor to Bugis MO1...very soon, he will come up with an ultimate spin on that Mary Ann Jolley interview where the stupid Kepala Bapak Kau has incriminated himself and exposed more than ever how his little brain cannot even keep his numerous lies straight, wakakaka. In the end, he had no choice but walk off in a huge huff...aiyoyo...bugis oh bugis, dumb and dumber
gonadbuster goes right to the jugular of talam dua muka ah moc...hehehehe
Toonsie's own power is limited. He just got checked and balanced by Zeti (PNB) and Sukhdave (Khazanah), two people he himself appointed. Check and Balance. This would never have happened in the previous administrations.
ReplyDeleteNow Zeti and Sukhdave have PhD's but they are NOT academics, having spent decades in Bank Negara actually implementing things, not like that Professor academic from IDEAS, who is only full of, ummm, ideas.
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Need to consider many factors for third national car project, say experts
KUALA LUMPUR, Oct 27 — A lot of factors such as resources and risks need to be considered before venturing into the third national car project, say experts.
Permodalan Nasional Bhd Group Chairman Tan Sri Dr Zeti Akhtar Aziz said Malaysia must consider if it has any comparative advantage for such a project due to limited resources.
“We should channel it (the resources) to areas where we have a comparative advantage and a leading edge.
“Can we do it? If we can’t, we better channel the resources to other areas,” she said during the “The Economic Agenda: Mahathir-nomics 2.0 and Vision 2020 Revisited” session at the Youth Economic Forum 2018 here today.
Zeti said coming from her background as a regulator, the nation must look at risks to measure the possible outcomes or setbacks of such a project.
“In this highly dynamic environment, it is no longer (about) the first order risk, you have to look at the second and third order risks.
“Therefore, (this way) you know what you are venturing into and whether, you have the resilience to absorb any setbacks,” she added.
Meanwhile, Khazanah Nasional Bhd Director Dr Sukhdave Singh said the government must consider if the third national car project would be commercially viable before embarking on it.
“If the project is commercially viable and private money goes into it, what is the problem right? My issue is later when they come to the government and ask for a bail out.
“For me, a commercially-driven project is the only way (to proceed),” he added. — Bernama
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