By IDEAS and Center for Market Education
KUALA LUMUR, Malaysia--The Institute for Democracy and Economic Affairs (IDEAS) and the Center for Market Education (CME) express concerns over the limited debate surrounding issues of political economy and the long-term consequences of implemented policies.
IDEAS and CME observe that a positive and vibrant discussion is ongoing on the future general elections (GE15), party leaderships and the relationship between the ruling coalition and the opposition (Memorandum of Understanding).
The CEOs of the two think tanks, Tricia Yeoh and Carmelo Ferlito, wish to bring to public attention the following economic policy decisions that have been recently taken, announced and implemented without proper debate and without a sober reflection on the long-term potential negative unintended consequences.
Some of the main economic policy decisions that have been taken without serious public discourse include the new EPF withdrawal that has depleted RM40 billion of EPF funds in an instant, putting at risk the future financial stability and retirement of poorer households.
The aim of the current statement, however, is not to take a position on the above mentioned issues, but to stress how these important decisions cannot be made in the context of an emergency and without a proper debate.
In conclusion, IDEAS and CME invite all the political parties to increase their level of engagement with economic policy decisions so that better choices for the welfare of the rakyat can be taken and the economic growth process can be placed on solid foundations.