…Turning to the New Economic Policy, Najib said he favoured gradual reform of the policy to help support economic restructuring. “We must accept policies that are attuned to the changing times.”
However, he said: “We cannot have too drastic a move until people are ready for it.”
Najib said that rules on foreign investment such as the quota on bumiputera equity in the services sector would be relaxed.
He also said the NEP had successfully raised living standards for the majority of the population but acknowledged that some mistakes had been made in its implementation.
The report also quoted him as saying that he favoured a return to his father’s original vision of improving conditions for the poor of all ethnic groups.
His late father, Tun Abdul Razak, was prime minister when the NEP was introduced in 1971.
Najib admits mistake in NEP implementation, wants to return to original goal to help the poor irrespective of race