In his address to the nation on May 21, PMX Anwar Ibrahim announced that the targeted subsidy scheme will likely kick in as scheduled in the second half of 2024.
In my heart of hearts, I do hope everything will go well.
If it is successfully implemented, the targeted subsidy scheme, I truly believe, will be an important step to restructure the economy in such a way that we will become able to transform our economy from one that is exploitation-based to one that generates true, real, and high value.
My problem is that I have little to no faith in Anwar and his band of merry men and women.
Although I hope the targeted subsidy scheme will succeed, I just can’t dispel this sinking feeling that Anwar and his band of merry men and women will fail to implement it, and as a result, they will make things worse even if they are genuinely trying to make things better.
There is a saying: The road to perdition is paved with good intentions.
There is another saying: Fools rush in where the wise fear to tread.
Even a fool can say that they hope everyone will be happy, healthy, and at ease, but it takes a great leader and a great team to translate that hope into reality for a nation.
Although it is not going to be easy, I do hope that Anwar and his team will defy my expectation and turn out to be wise, good and strong.
This targeted subsidy scheme will fail if it 1) causes inflation to skyrocket, 2) is resisted successfully by those who benefit from the status quo, and 3) is seen as a measure to fulfil the requirement of a foreign agency like the International Monetary Fund or the World Bank rather than to benefit the people and the nation.
My gut feeling is that the Madani government will be severely tested on all three counts in its quest to implement the targeted subsidy scheme and restructure the economy.
“Fire is the test of gold; adversity, of strong men,” says Seneca.
The implementation of the targeted subsidy, I am quite sure, is going to be a test of fire for the Madani government.
Although I have had a low opinion of the Madani government so far, I will be happy to admit my mistake if Anwar and the Madani government can just do what it takes to implement the targeted subsidy scheme successfully.
If the Madani government succeeds, I truly believe that it will not only be an important turning point for the country, it will also provide the Madani government with an indelible legacy.
I hope the prospect of doing good and leaving a great legacy will motivate and encourage the Madani government to do whatever it takes to make the targeted subsidy scheme a success.
May Fate and Fortune bless us all.
Nehru Sathiamoorthy is the author of “While Waiting for the World to end”. He was a columnist at FMT and a frequent contributor to the South China Morning Post, The Star, Malaysia-Today, MalaysiaNow, MalaysiaKini and Focus Malaysia.
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