MALAYSIA needs a fresh socio-political agreement to rebuild itself, said former CIMB Group chairman Nazir Razak.

Citing history after the 1969 racial riots, Nazir was quoted as saying by The Star that a new National Consultative Council (NCC) can help recalibrate Malaysia’s institutions, politics and socio-economic strategies.

The brother of former prime minister Najib Razak was referring to the NCC set up by their father and second prime minister Abdul Razak Hussein in the 1970s.

Among the NCC’s achievements were the New Economic Policy (NEP) and Rukunegara, the five-point national philosophy introduced in the aftermath of the May 13, 1969 racial incident.

Nazir said while Pakatan Harapan’s commitment towards institutional reform is commendable, it takes more than that to rebuild the country. 

“There is no doubt that the government’s reforms will significantly reduce corruption and strengthen checks and balances. I think that would get us to a most welcomed ‘Better Malaysia’. But not what I would describe as a ‘New Malaysia’,” he was quoted as saying at an event in the UK on Saturday.

In 1970, the Razak administration “boldly recalibrated the compact and the system” to bring together various divergent forces.

An updated NCC could rebuild and realign the country’s institutions, politics and socioeconomic strategies, he said.

The new NCC should be under the purview of the Council of Rulers and empowered to submit recommendations to Parliament.

Among the reforms it could undertake are electoral, such as redrawing constituencies to reflect Malaysia’s multicultural society and enshrine and define Bumiputera privileges. – March 11, 2019.