THE Centre for Market Education (CME) expresses serious concerns about the fact that PKR vice-president Nurul Izzah Anwar has been appointed as a senior adviser to Prime Minister Datuk Seri Anwar Ibrahim on economics and finance.
The political movement and support around the figure of Anwar Ibrahim has historically been associated with words such as reformasi and bersih, meaning that his campaign and communication strategy is linked with the promise of a new and reformist wind, which claims to be at odds with corruption and nepotism, explained Carmelo Ferlito, CEO of CME.
CME observes that the situation of a hung Parliament and the emergence of a coalition government was already the chance for Pakatan Harapan to agree on controversial moves, such as the (assumption of the) interim position of finance minister by the prime minister, in contradiction with previous statements by the appointed PM himself. Many observers noted that such an interim position sacrificed the appointment of capable people with popular consensus, such as Datuk Seri Johari Abdul Ghani, while the International Trade and Industry Ministry was entrusted to Datuk Seri Tengku Zafrul Tengku Abdul Aziz, in continuity with previous cabinets and against electoral signals.
It seems to us that little attention is currently devoted to the implementation of a sound economic policy agenda. CME has in particular observed over the past few weeks several statements by Economy Minister Rafizi Ramli which were controversial and demonstrated a poor understanding of economic theory and reality. Furthermore, such statements sounded more like moral preaching rather than practical and implementable policy proposals, which are very much necessary to tackle the economic downturn that CME has warned about since mid-2021.
It is in this scenario that the prime minister appoints one of his daughters, who recently lost in the general election, as senior adviser for economics and finance. Such an appointment does not only sound like nepotism, but it is also a source of concern for the future of the economy.
Nurul Izzah studied engineering and international relations and does not possess any specific background in economics or finance – a background that, while not necessary for primary political roles such as ministers, should be a must for advisers and counsellors.
Nurul Izzah has clarified that she will get no salary for the job. But here, there is a big misunderstanding: the actual cost of politics paid by the rakyat is not the cost of salaries, but the consequences of bad policies.
In this regard, the lockdowns, price ceilings, the ban on foreign workers and the new rules for expatriates (to give a few examples) have been much more costly for the nation than salaries or corruption.
Bad policies, although guided by good intentions, can ruin a nation. We have seen this with price ceilings and the ban on foreign workers. Malaysia has not much time left to solve structural issues and to get ready for the economic challenges which are about to come. – The Vibes, January 30, 2023
Carmelo Ferlito is CEO of the Centre for Market Education, a boutique think tank based in Kuala Lumpur, Malaysia, and Jakarta, Indonesia
