By M. Bakri Musa

Idris Jala, Minister in the Prime Minister’s Department and PEMANDU CEO, has yet to convince his cabinet colleagues, in particular the Prime Minister, of the need to reduce subsidies specifically and government spending generally. He has to do that first before taking his Subsidy Rationalization Lab road show to the rest of the country.

Responding to the first “Open House,” Prime Minister Najib indicated that he would “leave it to the people to decide on whether they [the subsidies] should be maintained or abolished.” In doing so he abrogated his leadership on a critical economic issue. He is following instead of leading public opinion; a wet-finger-in-the-air type of leader.

While I do not share Idris Jala’s dire prediction of Malaysia becoming bankrupt in nine years – nations, unlike corporations and individuals, cannot do that – nonetheless the grim picture he painted is not far from the likely reality. His likening Malaysia’s future to today’s Greece may or not be valid but there are enough useful lessons from the current Greek tragedy.
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