10% growth immaterial, people’s interests come first, says Daim

The former finance minister says those earning low income are clamouring for exorbitant prices to come down.

Daim, who is chairman of the Council of Elders, said that the previous Barisan Nasional government never cared for the people.

KUALA LUMPUR: The Pakatan Harapan government is more concerned about the people’s welfare than the country achieving fantastic gross domestic product (GDP) growth, says former finance minister Daim Zainuddin.

“There is no point even if the GDP is at 10%. People are suffering, Pakatan Harapan has the people’s interests at heart.

“This (GDP) is of no use. Those earning low income are clamouring for exorbitant prices to come down.

“The people are of utmost interest to us. We are not here to show off to the world. The people chose us. We must take care of them,” he said in an interview over TV3’s Buletin Utama .

The chairman of the Council of Elders also said that the previous Barisan Nasional government never cared for the people.

“When the price of goods was spiralling, the government could not be bothered. Instead, they chided the people by saying that they were not living in Singapore where the cost of living was even higher. We live in Malaysia,” said the 80-year old Daim, who was once the economic adviser to the government in the 1990s.

Inflation was said to be about 3% for eight consecutive years but the people refused to believe this because the cost of goods and services kept increasing.

“People laughed. When they looked at the price of things, they were expensive. How could inflation be at 3%?”

When Malaysia’s was going through a financial crisis in 1986 and 1998, Malaysians did not complain, he said.

“That’s because Tun Mahathir told me to give importance and priority to the people.

“Look after the people; that was his command.

“In 1986, we also reduced the salaries of ministers and we are doing it again. We want the people to sacrifice and the prime minister needs to sacrifice first,” said Daim.

The new government, he added, will manage the economy well.

“And, how to manage the economy well? Reduce debt, if possible don’t get into debts, show economic growth,” said the tycoon. -FMT