Govt acting to protect real economy, says Najib

By Tuesday October 28th, 2008 No Comments

PUTRAJAYA: The Government is taking proactive measures to ensure that the country’s real economy is not affected in the current global economic climate, Datuk Seri Najib Tun Razak said.

This was important, the Deputy Prime Minister said, as the first to be affected by any downturn in real economy would be Malay businessmen.

“It is one thing for shares to fall on the stock market but don’t let this impact on our real economy because the first ones to be bankrupt will be the Malay businessmen.

“They are vulnerable if the economy takes a turn for the worse. So, we must carry out proactive measures to boost our real economy.

“Wait for my speech in Parliament on Nov 4. I will announce several government measures to overcome the financial crisis,” he said in his speech at the Malay Chamber of Commerce’s Hari Raya open house here yesterday.

On the New Economic Policy, Najib, who is also the Finance Minister, said that whatever changes implemented in the policy would have to have the consensus of all parties.

“We cannot implement any change hurriedly. Any change will need to have the consensus and be accepted by everyone.

“There will be gradual liberalisation of the NEP but not that tomorrow, we will do away with every concept,” he said, adding that this would be implemented when the bumiputras feel more confident of themselves and their abilities to compete.

Source : The Star

Leave a Reply