Pakatan Rakyat leaders expressed concern at Prime Minister Najib Razak’s warning to the business sector not to support the political opposition, saying it was another wrong signal to send to investors already worried the BN might resort to force if it lost power in the coming general election.
“There cannot be economic reform without political reform. The existing web of economic networks enriching the political elite at the expense of the masses must be dismantled for true competitive forces to come into play,” PKR strategic director Rafizi Ramli (below right) told Malaysia Chronicle.
“The business community must be sincere and evaluate honestly the BN’s track record, which has been riddled with corruption and 12 years of economic stagnation. Najib’s ETP is nothing more than a list of expensive projects, out of which only 5 per cent will be implemented and those that will actually get implemented will be the property and construction-related deals with the usual huge chunk going to cronies.”
Pakatan states outperformed the BN states
Indeed, Rafizi’s views echo those held by many in the financial industry. Economists have long bemoaned the lack of structural reforms, saying that solutions offered by the BN government were often piecemeal and only treated symptoms, but could not cure the root illnesses.
Corruption remains the No. 1 killer of Malaysian competitiveness, while racial favouritism made it difficult for investors to obtain the greatest efficiencies.
Political stability is now also a major topic of conversation due to a series of recent warnings by Najib himself that BN would not let go without a monumental fight, even if it involved bloodshed.
“Najib’s latest remarks show how desperate he is and how worried the BN is of losing control. His contention is childish and judging from the fact that it was the Pakatan states that topped the list of FDI last year proves that Pakatan can rule much better and with real fairness,” DAP MP for Taiping Nga Kor Ming (below left) told Malaysia Chronicle.
“Penang got the most FDI with RM12.2 billion and next was Selangor with RM10.6 billion. These two already beat the 9 BN states. We expect Najib to continue to use threatening tactics to scare investors as he and the Umno elite are terrified if they lose power, all their scandals will be exposed and they will be brought to justice.”
Bringing the corrupt to justice
At a Lunar New Year event held in a Chinese school on Friday, Najib had made his wishes clear to the business community.
"I share your dreams and aspirations (to build the country). What I want to achieve is a tall order, and I am asking you to join me in this quest,” Malaysiakini reported Najib as saying.
"The journey may be long, but let us take the journey together. This is not the time to experiment and take chances with your future. I am sure you know what I am referring to... business people are always pragmatic and astute.”
Just last week, the PM had warned the opposition not to try to take power via an uprising like in Egypt. His remarks raised eyebrows because the Egypt turmoil was a people’s uprising.
Pundits say it implies the degree to which Najib – a member of the Umno elite – was out of touch with common folk. Many Malaysians had been angered by his comments, saying it showed his “nasty political streak” and that he believed the BN was paramount and even “above the people”.
"It was unnecessary to give that warning when we are a different country with better standards of governance and democracry," past president of Transparency International Ramon Navaratnam told Malaysia Chronicle.
"People will not react violently unless they feel very badly treated and until they find the violation on human rights no longer bearable. There is no need for these sort warnings. It raises the question as to why, especially at this time when we should be more constructive and work towards unity and progress rather than instil fear and concern for the future."
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