FORMER law minister Datuk Zaid Ibrahim has criticised Perkasa’s proposed boycott of Petronas, following the oil and gas giant’s decision to award a solar panel installation contract to a non-Bumiputera company.

Speaking on X this morning, Zaid suggested that Malays should consider boycotting Malay political parties and leaders who are not actively assisting in their success.

“Malays can usefully boycott Malay political parties and leaders who are not doing anything to help the Malays be successful.”

He emphasised the need for a shift in the economic model, stating that Petronas’s selection of Solarvest, a company with the financial means to compete on merit, highlights the lack of effective Malay competition in the market.

He also pointed out historical challenges faced by Malays, citing former prime minister Datuk Seri Ismail Sabri Yaakob’s unsuccessful attempt to empower Malays through the short-lived Mara mall chain.

“Malays are expected to be able to compete and win contracts on merit, but the components in the supply chain and business environment are not under their control. With the status quo, Malay contractors and suppliers will never be able to compete on merit. What business can the Malays do now with success?

“How do you break the chain and allow Malays a chance to succeed on merit? We start by supporting a Malay party that has a progressive and radical economic agenda,” he said, adding however that no such party currently exists.

“Our current leaders have yet to announce a radical transformation of our economic policies. They are comfortable under the present system.

“The misfortune that befalls the Malays is that their political masters are not interested in economics. They are not interested in dismantling monopolies. They are only interested in socks and boycotts.”

Moreover, Zaid advocated for a return to nationalised industries of the 1970s, arguing that privatisation has disadvantaged Malays for an extended period.

“Cement, other manufacturing facilities, and strategic investments in technology should remain in the hands of the government.” – March 27, 2024

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