Industry captains urge Pakatan to rid GLCs of ‘communistic’ culture for return to capitalism | Malay Mail

Panellists participate in a discussion during the National Economic Forum 2019 in Kuala Lumpur August 29, 2019. — Picture by Shafwan Zaidon

“GLCs are definitely in too many areas. When GLCs own more than 40 to 50 per cent of the economy it is communistic already, we are no longer capitalistic,” he said in a discussion at the National Economic Forum 2019 here attended by 600 people. The MICCI president reminded the new government that part of the reason the Barisan Nasional coalition lost in the last elections despite being in power for six decades was because of endemic cronyism and corruption, which he said contributed to higher living costs.

But Tan also pointed out that race and religion has been increasingly underscoring national policies and urged the government to practise meritocracy in business and economic matters. Malaysian Associated Indian Chambers of Commerce and Industry president Datuk N. Gobalakrishnan speaks during the National Economic Forum 2019 in Kuala Lumpur August 29, 2019. — Picture by Shafwan Zaidon

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

In consensus, corporates tell Pakatan too much politicking going on, ruining business | Malay MailKUALA LUMPUR, August 29 — Six hundred hands shot up into the air at the National Economic Forum 2019 today when former international trade and industry minister Datuk Seri Mustapa Mohamed asked if there was too much politicking in the Pakatan Harapan (PH) government. “Anyone who thinks that...
Source: malaymail - 🏆 1. / 86 Read more »