http://www.straitstimes.com/Breaking%2BNews/SE%2BAsia/Story/STIStory_355363.html
Published by STS
March 27, 2009
KUALA LUMPUR – MALAYSIA’S incoming prime minister will radically restructure the country’s economy and its state companies to make them more efficient and to wean them off dependence on the government, a source told Reuters on Friday.
Mr Najib Razak, currently deputy prime minister, will take over the top job next week and the economic reforms will be mostly implemented within 100 days, a radical departure from the incumbent Abdullah Ahmad Badawi who did not deliver on reform.
‘Najib realises that he will need to move fast and that he needs to undertake major reforms, so an extensive plan has been prepared and is just waiting for final approval and to be rolled out once he is in office,’ the senior source said.
The source spoke on condition of anonymity and had direct knowledge of the planned reforms, which were the first indications of concrete measures planned by Mr Najib.
Within a week of taking office he will name a new cabinet which will likely be ‘leaner’ than Mr Abdullah’s, which was often criticised as bloated.
Mr Najib was confirmed on Thursday as president of the United Malays National Organisation (Umno), the biggest party in the National Front coalition that has ruled Malaysia for 51 years, in a party vote that saw key loyalists elected to top posts.
He will formally take office ‘soon after’ the Umno annual meeting ends on Saturday and will start moves to reform Umno, which has lost support due to corruption and influence peddling, the source said. — REUTERS