Category: Economy

The national budget has not occupied the first place of attention of Malaysians

Speech by Parliamentary Opposition Leader, DAP Secretary – General and Member of Parliament for Petaling, Lim Kit Siang, in the Dewan Rakyat on Monday, 23rd October 1978 on the 1979 Budget

For the first time, the national budget has not occupied the first place of attention of Malaysians

This is probably the first time that the national budget has not occupied the first place of attention of Malaysians. There are two main reasons for this. Continue reading The national budget has not occupied the first place of attention of Malaysians

Hari Raya Puasa Message

HARI RAYA PUASA message by Ketua Pembangkang and DAP Secretary-General, Lim Kit Siang, on 14.9.1977:

Hari Raya Puasa Message

I wish all Muslims in Malaysia Selamat Hari Raya Puasa. Malaysia has been Merdeka for 20 years, and a new generation of Malaysians have grown up, celebrating Hari Raya Puasa without memories of political colonialism.

However, economic colonialism is still all-pervasive in our economy and country, as evident by the dominance and monopoly of foreign capital in Malaysian economy. Continue reading Hari Raya Puasa Message

Economic implications for Malaysian’s political future

Speech by Parliamentary Opposition Leader and DAP Secretary-General, Lim Kit Siang, at the Eighth Great Economic Debates organised by the University of Malaya Economics Society at the Dewan Tunku Chancellor University of Malaya, on Tuesday, 9th August 1977 at 7.30p.m.

Economic implications for Malaysian’s political future

The New Economic Policy, which inspires the Second and Third Malaysia Plans, has its declared objective the promotion of national unity through the two-pronged strategy of eradicating poverty regardless of race and of restructuring Malaysian society so as to gradually reduce and eventually eliminate the identification of race with economic function. Continue reading Economic implications for Malaysian’s political future

Trade Unions and Politics: An Inseparable Relationship.

Speech by Ketua Pembangkang and DAP Secretary-General, Lim Kit Siang, to the National Union of Employees of Unions of Petaling Jaya, Balai Raya, on Sunday, 17th October, 1976,at 10.00 a.m.

Trade Unions and Politics: An Inseparable Relationship.

Recently, trade unions have been very much in the news firstly over the CUEPACS claim for government implementation of the Ibrahim Ali Commission revised Report, an secondly the Trade Union demand for changes in the labour laws. Continue reading Trade Unions and Politics: An Inseparable Relationship.

Call on Ministry of Finance to review its tender policies which is wasting taxpayers hundreds of millions of dollars a year

Speech by DAP Secretary-General and Ketua Pembangkang, Lim Kit Siang,at the DAP Tenth Anniversary Territory DAP State
Sub-Committee at 63-D, Jalan Sultan, Kuala Lumpur on Saturday, 3rd october, 1976 at 8.00 p.m.

Call on Ministry of Finance to review its tender policies which is wasting taxpayers hundreds of millions of dollars a year.

The government has pleaded its inability to pay as one of the reasons why it needs six months to study at greater depth the Ibrahim Ali report on revision of public employee salaries. Continue reading Call on Ministry of Finance to review its tender policies which is wasting taxpayers hundreds of millions of dollars a year

DAP calls for comprehensive nation-building policy reviews to make Malaysia ann attractive investment country for both foreign and local investors.

Speech by DAP Secretary-General and ketua Pembangkang, Lim Kit Siang, at the anniversary diner of the Jalan Pekeliling DAP Branch held at the Multi-Storey Car Park Restaurant, Kuala Lumpur, on Sunday, 26th September, 1976, at 8.00 p.m.
DAP calls for comprehensive nation-building policy reviews to make Malaysia ann attractive investment country for both foreign and local investors.

A week ago, the Deputy Prime Minister, Dr. Mahathir Mohamed, said the government was prepared to amend the Industrial Co-ordination Act and the Petroleum Development Act to attract more foreign investment. Continue reading DAP calls for comprehensive nation-building policy reviews to make Malaysia ann attractive investment country for both foreign and local investors.

Failure of the Third Malaysia Plan to stop downdrift of the share market an ominous start to the TMP

The Federal Development Expenditure Estimates for 1976 amounting to $3,137 million is 50 % bigger than the estimated expenditure of $2,020 million in 1975.

It marks the first-year implementation of the Third Malaysia Plan which the Dewan Rakyat has just debated and passed.

One would normally expect that such an important occasion like the announcement and adoption of the Third Malaysia Plan, the most ambitious economic blueprint for the next five years which envisages a total investment target of $26.8 billion and public sector expenditure of $18.6 billion would be a great boost to public confidence and to the share market in particular. Continue reading Failure of the Third Malaysia Plan to stop downdrift of the share market an ominous start to the TMP

The Third Malaysia Plan and the time-bombs in Malaysia

The Prime Minister, Dato Hussein Onn, in his foreword to the Third Malaysia Plan, said: “A major assault on poverty, a vigorous and continuous effort in the task of restructuring society as well as the strengthening of our national security., are the triple thrusts of the Third Malaysia Plan

This is probably the most significant and revealing statement in the whole 430-page Third Malaysia Plan.

The Second Malaysia Plan 1971-1975 incorporated a two-pronged New Economic Policy for development. The first prong was to reduce and eventually eradicate poverty, by raising income levels and increasing employment opportunities for all Malaysians, irrespective of race. The second prong aimed at accelerating the process of restructuring Malaysian society to correct economic imbalance, so as to reduce and eventually eliminate the identification of race with economic function. Continue reading The Third Malaysia Plan and the time-bombs in Malaysia

Call for a joint high-level inquiry by Central and State Government into the industrialisation setbacks in Malacca State

Ketua Pembangkang and DAP Secretary-General, Lim Kit Siang

Call for a joint high-level inquiry by Central and State Government into the industrialisation setbacks in Malacca State
The Malacca State has suffered severe setbacks in the field of industrialisation in 1975. it is all the more regrettable that the State Government has refused to admit this reality and has tried instead to present a picture of roses about great progress in industrialisation this year.

Throughout this year, the various industries in Malacca had carried out retrenchment exercises, or dismissals and termination of service of employees on the most flimsy grounds to reduce their work-force. Continue reading Call for a joint high-level inquiry by Central and State Government into the industrialisation setbacks in Malacca State

The 1976 Budget – The Weakened Ringgit

The 1976 Budget presented by the Finance Minister last Thursday and the accompanying Treasury/ Economic Report 1975-1976 raised many big questions about the health and future of the Malaysian economy, like the weakened Ringgit, the poor economic performance of the country, mounting unemployment, continued high rate of inflation, rising public debts, the new tax proposals, and the failure to make any appreciable progress to eliminate poverty and redress economic imbalances between the haves and the have-notes.

I shall deal with these various issues. Continue reading The 1976 Budget – The Weakened Ringgit