KUALA LUMPUR, Sept 8 — The New Economic Policy (NEP) fostered a culture of dependency among Malays and became too focused on ownership and government assistance, former CIMB Group chairman Tan Sri Nazir Razak and former deputy prime minister Tun Musa Hitam said today.

Free Malaysia Today (FMT) reported that the two made the remarks at a forum titled “Remembering Tun Abdul Razak: Architect of Malaysia’s Development and Nation Building”, which discussed whether the NEP should be reviewed, replaced or remodelled.

Nazir said the NEP was intended to run for only 20 years and cited former deputy prime minister Tun Dr Ismail Abdul Rahman’s description of it as a 20-year “handicap”.

“We will be in serious trouble if we have to continue. And when it goes on for too long, this ‘tongkat culture’ becomes deeply embedded,” said Nazir, the son of second prime minister Tun Abdul Razak Hussein.

He said the policy should be reviewed, with greater emphasis placed on education and professional development instead of the distribution of shares and ownership.

“The NEP focused too much on the distribution of shares and ownership. And when you go down that path, all these ‘Ali Babas’ come up,” he said, referring to a culture of rent-seeking.

“I think we focused on the wrong theme in the execution of the NEP,” he added.

Nazir also questioned the practice of awarding contracts to Bumiputera businesses, particularly why politicians were allowed to choose the recipients.

“They (politicians) don’t want competition among Bumiputeras,” he said, adding that the lack of competition had weakened Bumiputera businesses.

Musa, who served as deputy prime minister from 1981 to 1986, said the policy had also made Malays overly reliant on government assistance.

“To me, the economic policy for the Malays has caused the Malays to become too pampered. Pampered by the government,” he said.

Musa said the NEP had benefited Malays and the country as a whole, but had also created a sense of insecurity, with recipients continuing to feel that government assistance was insufficient.

“People fear receiving nothing, but even when they receive assistance, they say it is not enough and ask for more.”