Hadi Awang’s got it wrong rejecting economic liberalization - MCA

The MCA Secretary-General today expressed disappointment against PAS President Dato’ Seri Hadi Awang who disapproved the Prime Minister’s decision to abolish the 30% Bumiputera quota in initial public share offers as well as eliminating the requirement for regulatory approval by the Foreign Investment Committee (FIC).

“It becomes obvious that PAS slogan of ‘PAS for all’ was never meant to look after the needs and grievances of non-Bumiputeras, despite the 30% reservation for Bumiputeras for listing with Bursa Malaysia being a longstanding issue in the commercial sector.”

“The measures announced by the Prime Minister YAB Dato’ Sri Najib bin Tun Abdul Razak is part of the reform agenda of the Barisan Nasional to encourage national competitiveness and to step out from the moulds of the past of economic protectionism. The Prime Minister’s move augurs well for promoting further investments into Malaysia, which will inject growth into the economy currently fledging under the strain of the global recession.”

“If PAS continues with their exhortations of preserving affirmation action policies for Bumiputera for public listed companies, this will drive away both domestic and foreign direct investors,” cautioned Foon Meng.

“Quota restriction causes hurdles towards propelling economic dynamism. PAS has to come to terms that the revamp measures overhauling the national economy announced by the Prime Minister runs in tandem with the present global trend of free trade, which in turns, spearheads a level-playing field. Thus opportunities are generated for everyone. MCA fails to comprehend why PAS is antagonistic towards creating equal opportunities for all.”

“The ‘unholy’ alliance of Pakatan Rakyat veers on fragility all too often as PAS propagates an exclusivist mould. It certainly pushes a dichotomy against the Prime Minister’s 1-Malaysia concept, and totally runs falls against Pakatan Rakyat’s election campaign ideology of a welfare state. How can PAS preach about fairness for all races, but concurrently espouse that ‘the “Bumiputera position must be strengthened?’ It is self-contradictory,” Foon Meng added.

“PAS seems to have abandoned the needs of the non-Bumiputeras now that they’ve gained so much popularity through the latter’s mandate although during their election campaigns, PAS beguilingly would usually extol a welfare state for all,” remarked the MCA Secretary General while exposing the campaign strategy of PAS to garner votes from non-Muslims who traditionally have rejected the Islamist-based party.  

-MCA online-