This latest set of initiatives is to wrap up the New Economic Model, with focus on trying to solve the problems of running a proper government machinery and correct the abuses of the past (or rather, the present). But somehow it lacks the Oomph! for the private sector - which I suppose the EPPs are suppose to be doing.
SRI 1: Public Finance: Increasing Revenue, Reducing Cost
+RM13 billion (contractionary on economy)
Improving tax administration
Rationalising corporate tax incentives
SRI 2: Government's Role in Business
Since the government has a funding problem, the government will divest its stable of companies and will only be involved in business in strategic and "GNI-positive" areas:
Regional corridor developments
Procurement of defence technology, etc
Investment in "large growth capital, catalytic or new technology"
Biotechnology, renewable energy, public transport systems, etc
SRI 3: Human Capital Development for High-Income Economy
Minimum wage to be instituted
Talent Corporation to draw up a plan
Unemployment insurance to be introduced
To study labour market
SMEs workforce requirements
SRI 4: Public Service Delivery: Lean, Efficient, Facilitative Government
Remove overlapping processes
Clear governance structure
Real-time performance monitoring
Real-time feedback rating mechanism
Greater public involvement in high level policy review
"Strategic human resources practices"
Open recruitment within civil service and public-private sectors
Enhancing "cross-moblility" by introducing "mobility characteristics" in new superannuation schemes and enhancing current pension scheme (meaning that civil servants can quit or be sacked halfway through their career and still get pension?)
SRI 5: International Standards and Liberalisation: Improving Malaysia's Competitiveness
Liberalisation of the services sector: healthcare, education, business services (professional businesses)
Competition law - to promote "competition, private investment and market dynamism" and safeguard against "anti-competition practices and abuse of market power"
SRI 6: Narrowing Disparities (Bumiputera SMEs): Capacity Building Boost
Develop Bumiputera SMEs
Promote wealth creation
Uplift low-income Malaysian households
TERAJU to "lead, coordinate, drive Bumiputera economic participation and to strengthen the Bumiputera development agenda"
High-Performance Bumiputera SME programme
Develop next generation of world-class Bumiputera entrepreneurs
To be able to compete in "open market without heavy reliance on Government contracts"