PUTRAJAYA, May 27 â€“ Former minister Tan Sri Amirsham Abdul Aziz has been made chairman of the country’s Economic Advisory Council effective June 1 to help the government keep Malaysia from a looming recession.
Prime Minister Datuk Seri Najib Tun Razak announced his appointment and added up to 12 members will be named to the council, including sevreal foreign experts.
“He will have minister status but will not be a member of the cabinet,” Najib told reporters in his office.
The prime minister had announced the council’s formation earlier, tasking them to transform Malaysia’s export-drive economy to one based on innovation and creativity.
Bank Negara today announced the Malaysian economy shrank 6.2 per cent in the first quarter of 2009, the worst fall since the fourth quarter of 1998 during the Asian financial crisis. The central bank said the outlook remained grim for the second quarter but will improve later in the year.
Two consecutive negative quarters is technically a recession, experts say.
Amirsham was a former Maybank chief executive officer who headed the Economic Planning Unit as Minister in the Prime Minster’s Department after Election 2008 as a senator. He was dropped from the cabinet when Najib took office last month.
Najib said among the members are experts in economics and a couple of sociologists who will help boost the nation’s economy from a middle to high income earner and towards developed nation status by 2020.
Source : The Malaysian Insider