PUTRAJAYA (May 9): A monitoring agency should be formed to scrutinise the “shared prosperity” economic model spanning until 2030 that was announced today, said Home Minister Tan Sri Muhyiddin Yassin. 

“I feel there is a need for [a monitoring agency] to be formed to monitor the initiatives that will take place to ensure they do not stray from their objectives,” Muhyiddin said.  

He was speaking to reporters at the sidelines of the special address by Tun Dr Mahathir Mohamad, in conjunction with the one-year anniversary of Malaysia’s first ever change in federal government. 

Muhyiddin was supportive of the announcement on the shared prosperity economic model, which he said is a step forward from the previous economic model that focused largely on the Bumiputera.  

He also lauded the prime minister’s openness towards public feedback towards the new economic model.

“That is a suggestion from the prime minister that everyone should take note of. It is a brave move because previously, many doubt the policies to be implemented by Pakatan Harapan in the context of fairer and better economic growth,” Muhyiddin said.  

“I am confident if this can be implemented. Malaysia will be headed to a better future, taking into account the interests of everyone in the nation,” he added. 

Earlier, Dr Mahathir in his special address detailed the objectives and timeline for the new economic model to replace what was described as a non-inclusive, debt-driven economic model spanning the last decade, which focused on mega projects and development of major cities in the country.  

The shared prosperity model, which targets to provide a decent standard of living for all Malaysians by 2030 regardless of economic class, race, and geographic location, will count on public feedback before it is presented in the 12th and 13th Malaysia Plan, Dr Mahathir said.