THE government is formulating an anti-“Ali Baba” (rent-seeking) policy and expediting the National Energy Transition Road Map (NETR) initiatives, Prime Minister Anwar Ibrahim said.

Anwar, who is also finance minister, said the Ali Baba culture has a negative impact on the economy and the government is serious about eradicating this activity.

“Estimated losses reach about 1% of GDP and it comprises procurement, licensing, permit and quota issuance, and subsidy and grant issuance aspects.

“The Economy Ministry and Attorney-General’s Chambers, with the participation of ministries and government agencies, will study and draw up the appropriate legal policies and strategies to eradicate rent-seeking activities and present the proposals to the cabinet,” he said in a statement today.

He said besides approving the establishment of an anti-Ali Baba policy, the National Economic Action Council (NEAC) on July 10 also agreed to expedite the NETR initiatives as a strategic catalyst for turning Malaysia into a regional leader in renewable energy.

Anwar said the pioneer flagship projects and NETR initiatives aim to boost industry participation in the government’s new direction in exploring sources of renewable energy and shaping market demand as well as identifying resources to bridge the project financing gap.

He said the first phase of NETR will highlight 10 key pioneer projects that are strategic and of high value as measures for implementing the National Energy Policy 2022-2040, with investments estimated at RM25 billion.  

It is expected to create 23,000 high-quality jobs and reduce over 10,000 gigagrams of cumulative carbon dioxide equivalent emissions.

“The NETR Phase 1 will be unveiled on July 27, followed by the second phase in August,” Anwar said.

He also said NEAC will continue to formulate new measures and initiatives to address various national economic challenges to ensure governance improvement and systematic structural changes to enhance the nation’s economic potentials.

“The government will strive to ensure the country achieves the Low Carbon Nation Aspiration 2040 and always progresses in line with current technological developments and to meet the people’s socio-economic needs,” he said. – Bernama, July 11, 2023.