Putrajaya to draft new ‘inclusive’ economic policy for Malays

The government will be drafting a new economic policy for the Malays centred on growth, fairness and equal distribution of wealth.

In a statement, Economic Affairs Minister Mohamed Azmin Ali said the move was to help the community deal with the current financial climate and the Industrial Revolution 4.0.

The move was also on par with Pakatan Harapan’s commitment to defend the rights of the Malay and bumiputera communities, he said.

“To face the current economic challenges, the government will be formulating a new Malay economic policy centred on growth, ensuring fairness and sharing of prosperity.

‘The policy will highlight both elements of inclusivity and justice that will contribute to the wealth that is to be shared with all Malaysians through the concept of shared prosperity.

“My visit to Kelantan last week turned a new page in the federal government’s and state government’s relationship, as well as revived the spirit of federalism, that will launch the people’s economy, especially the suburban communities,” Azmin said in a statement, referring to his work trip to the PAS-led state from March 6 to 8, where he also chaired the Kelantan State Action Council meeting.

The government, he added, would also further its efforts to lift the “dignity” of Felda stakeholders and farmers “struggling with the legacy left by the previous administration”.

Azmin said the government is also refining new initiatives to ensure the sustainability of the agricultural and farming sectors, which in turn would increase income and purchasing power.

Putrajaya will also be initiating discussions and engaging with the relevant stakeholders in the economic sector. This includes government-linked companies, trade chambers, NGOs and financial specialists.

This comes as the new government has repeatedly been forced to deny accusations by the opposition that it has failed to defend the welfare of the Malay-Muslim community, including farmers, palm oil smallholders and fisherfolk.

It has found itself having to defend its actions, including initial plans to ratify the International Convention on the Elimination of All Forms of Racial Discrimination (Icerd), and the appointments of several non-Muslims in high-profile positions within the government and judiciary.

Harapan has also had to contend with a possible swing in Malay support towards the alliance formed by the two biggest Malay-Muslim political parties, Umno and PAS.