Pay your debts even if it is difficult, says Dr M

 

PUTRAJAYA: The attitude of some Malays who do not have the habit of settling their debts is disappointing, says Tun Dr Mahathir Mohamad.

"When someone owes another person money, they have to pay but there are those who don't return the money. This causes inconveniences for others.

"But for those who pay their debts, they pay every month even though it is difficult because they don't want others to become victims," said the former premier.

Dr Mahathir also said that many bumiputra entrepreneurs lacked the tenacity to stay in the business sector.

He said this was due to the habit of starting a business as a temporary venture before securing a stable income job.

"Many bumiputras enter the business field as a temporary venture; they are not in it for the long run.

"On the other hand, we find others, who go into business for the long run and grow their businesses. So this attitude (of not being in business for the long run) must be corrected," he said after attending a forum on “Developing the Resilience of Bumiputra Economy and Future Challenges” held at the Perdana Leadership Foundation here on Saturday (Feb 11).

He said there should also be due diligence done before entering the business field in terms of defining the methods, problems, obstacles and the nature of business.

This, he said, would help entrepreneurs understand how they could overcome things in order to run a business.

Separately, Dr Mahathir said the government had not tackled the cost of living issue.

He said that telling people simply not to eat chicken because it was expensive was not the solution.

When asked if he had any suggestions to help address the issue, he said the root problem was caused by corruption resulting in the increase in the cost of products.

“A lot of things when it gets tangled in corruption, causes the prices of products to increase.

"There are other factors too but corruption remains the main cause behind why the cost of living cannot be reduced," he said. - FMT