Ibrahim Ali raps Nazir Razak for talking ‘nonsense’ about NEP

Datuk Ibrahim Ali has criticised Datuk Seri Nazir Razak for talking “nonsense” about the New Economic Policy (NEP) — a day after the top banker called for all Malaysians to jointly grow the economic pie.

Nazir, Prime Minister Datuk Seri Najib Razak’s younger brother, told the MCA Chinese Economic Congress of how NEP-type affirmative action policies had been abused by Malay and Bumiputera businesses.

The CIMB group managing director also spoke about how he felt the Approved Permits (APs) system for cars should be done away with.

“I think Nazir is talking nonsense. If he does not understand why certain group are given AP then he should ask. APs have been given during the era of Tun Abdul Razak and Tun Dr Mahathir.”

“This is because the Malays could not break into the automotive industry. That is why we can see Naza is very successful today,” the Perkasa chief told reporters today.

Ibrahim advised Nazir to consult before making any further statements regarding the NEP.

“I would like to advise Nazir that even he is banker, he is still new and consider how he was able to get that position. We must consult when it comes to economic matters especially from the former prime minister Tun Dr Mahathir Mohamad. He has been the prime minister for 22 years. When our ringgit was attacked in 1997, we did not surrender to the pressure from IMF and World Bank but our economy has recovered,” he said.

The Pasir Mas MP stressed that the APs is important to ensure that Malay community has a stake in the automotive industry.

“I believe Datuk Nazir does not understand the goal of why APs are given to the Bumiputeras. It is to help the Bumiputeras in the automotive industry which is controlled by the non-Malays so with the AP system, it can help the Malays to be successful. From their success, they can invest into other fields,” he said.

However Ibrahim admitted that NEP has failed in terms of implementation but stressed that it must be continued.

“What does he mean by bastardised? If NEP has failed then that is a question of implementation but in terms of goals and ways to achieve the 30 per cent equity by maintaining affirmative action, that must be continued,” he added.

He said that NEP and APs are important for the community to have a continued source of wealth.