The latest attempt by Dato' Sri Najib Razak to strike fear among the investment and business community in the event of a Pakatan Rakyat victory in the 13thGeneral Elections is shameful and deplorable. The warning in a recent Bloomberg interview of "a sharp plunge in Malaysian stocks and the ringgit" and "a catastrophic ruin for the country" in the event of a Pakatan victory is but a desperate and irresponsible act to paint Pakatan Rakyat in a bad light.
It is most unbecoming of Dato' Sri Najib to use his position as caretaker Prime Minister to make such rash statements calculated to spook the public and agitate the market. He must stop acting like the proverbial boy who cries wolf and start acting the part of a leader of a coalition that will soon be met head long by the Pakatan Rakyat in the coming elections. The outcome will be determined by the people whom we believe must be given all means to make a rational and informed choice.
Calls for change can no longer be denied
We believe that the increasingly louder calls for change towards a new and better Malaysia represent the people's awakening with a regime change that will take place via the ballot box. This is a process completely in accordance with the practice of constitutional democracy. Najib’s attempt to link such a process with the Arab Spring or revolutionary overthrow of governments is completely misconceived and smacks of bad faith and mischief to mislead the people.
Notwithstanding the urgent need for sweeping reforms to further buttress the economic foundation, our economy can absorb any short-term economic or financial shocks that may result from any knee-jerk reactions to a change of government. The downside risks to long-term economic and financial market soundness and stability are therefore limited.
On the other hand, change is imperative in order to raise Malaysia's long-term global competitiveness and to catapult the long-term potential of Malaysia's economic growth beyond 6%.
Smooth transition with minimal disruptions
We would like to remind all stakeholders of the sacrosanct duty to respect the voice and choice of the people at all times. A new Federal Government under Keadilan and its PR coalition partners will ensure a smooth transition process with minimal disruptions, allay concerns over any forms of uncertainty and instability, and restore confidence among the public at large, investors and other stakeholders.
The new Federal Government will ensure policy clarity and consistency, and specify the priority of policy initiatives for the short, medium and long term.
It will strive to find the right balance between the needs to continue liberalising the economy to make Malaysia a competitive nation for businesses to thrive and to fervently defend the rights and interests of the poor, the marginalised and the underprivileged. Weeding out endemic corruption, crony capitalism and rent-seeking practices; lifting restrictions to civil liberties and eradicating all forms of abuse will be among the major policy objectives to attain the immediate to medium term.
Anwar Ibrahim is the Opposition Leader and de-facto head of the Pakatan Rakyat
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