In the Malay Press: Mahathir says no need TPPA, bumis still need protection
(fz.com) – Mahathir said International Trade and Industry Minister Datuk Seri Mustapa Mohamed had met with him and given the assurance that the agreement would not be signed without negotiating the terms of the TPPA.
Bumiputeras are not fully matured to compete in the free market without protection from the state, former Prime Minister Tun Dr Mahathir Mohamad said.
In an exclusive interview with Sinar Harian on the Trans Pacific Partnership Agreement (TPPA) today, Mahathir said bumiputeras should not feel embarrassed for their need for state protection in business dealings.
“We are not matured yet. It is not right to embarrass bumiputeras just because they still need protection,” he reportedly said.
“If we give RM1 million to a rickshaw driver, will he be able to manage the money with the same care compared to an expert in investment?” he added.
Despite acknowledging that there were many successful bumiputeras in the country, he defended the need for protection policies for bumiputeras.
“Please do an audit if we say that we need to open government procurement deals to whomever without taking into account whether they are bumiputera. The private sector (all this time) have done so? (Companies) in construction, business, have they opened to bumiputeras?” he asked.
