Economists lauded the move by the government to terminate all politically appointed chaiman and board members of government-linked companies (GLCs), statutory bodies and state-investment funds with immediate effect. They viewed this move as a great start to ensuring good governance of these organizations.
As defined by the government, GLCs are companies where the government has a controlling stake in major decisions, such as appointment of management positions, contract awards, strategy, restructuring, financing, acquisition and divestments.
The economists viewed such terminations as an opportunity for exceptional individuals, who have the necessary knowledge of the industry and skills, to be appointed to these organizations and thus avoid political interference from the government.
But for the ordinary rakyat, this move is of no positive consequence as it did not improve our lives.
Those who were terminated pursuant to the announcement will not suffer, lose their dignity or face a bleak future trying to put food on the table. They will still continue to live their accustomed lavish life. They will still travel and have holidays with their families overseas. Their children still continue with their private schools or universities overseas.
But for the ordinary rakyat, they have to continue to slog to put food on the table. They still have to cope with the increasingly rising costs of living.
The notice merely announcing the termination is just the beginning of a game of musical chairs. Those vacant seats have to be filled up later. Priority may be given to those who are politically aligned with the political parties that make up the present government.
For those soon to be appointed: Are they qualified for these positions?
The rakyat is well aware that filling up these sought-after positions comes with with perks. A form of reward for those are well-connected or are the supporters of the leadership of the day.
A study suggests that since GLCs are generally perceived to be less efficient and less profitable than private firms, their performance is potentially artificially generated.
GLCs in Malaysia are seen to have preferential access to government contracts and often benefited from favorable government regulations. It is difficult or near impossible for private companies to invest in sectors where GLCs are dominant.
All these GLCs, statutory bodies and state-investment funds have Nomination Committees and Remuneration Committee on their Board. All of them published Annual Reports where the Board of Directors commits in writing that they adhere to good corporate governance and practiced transparency and integrity in the management of the entities.
Can the nomination of committees in each of these entities put their hands to the hearts and believe that those nominated to their Boards by the government are really people of integrity, are trustworthy and have the skillsets to guide the entities which they are in?
If the government really does believe in true corporate governance, please do away with all these positions from these entities.
The quantum of remuneration paid to all these people are obscene and shocks the ordinary rakyat who have to scrounge every day. Savings from paying these remunerations could be better used to help the rakyat in various ways.
The ordinary rakyat is not interested in the games that the political parties play, which to us is just a shuffling of interests amongst the politicians and their network of supporters - again, leaving nothing for the people.
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