KUALA LUMPUR: The newly launched Public-Private Partnership (PPP) Master Plan 2030 (Pikas 2030) must be carefully balanced to benefit the entire nation, according to an economist.

Universiti Kuala Lumpur Business School economic analyst, Associate Professor Aimi Zulhazmi Abdul Rashid, explained that PPPs - collaborations between the private and public sectors to deliver public services or goods - have been the preferred approach for the country's development projects.

"The general outcomes of PPPs have been impressive, creating jobs and boosting the economy on a large scale. Now, they need to rise to another level to align with the Madani Economy's strategic plan, which aims to elevate Malaysia to a high-income nation by 2030," he told the New Straits Times.

Aimi emphasized that this process involves breaking free from the middle-income trap and ensuring more balanced development throughout the country. He added that the procedures must be refined to meet global governance standards.

"Prime Minister Datuk Seri Anwar Ibrahim also highlighted that the key performance indicators (KPIs) of Pikas 2030 not only involve partnering with the right private sector firms but must also benefit employees and the people. There needs to be a balance between profit-making and ensuring strong corporate social responsibility for the benefit of society."

Anwar further stated that all projects under Pikas 2030 must adhere to uncompromising principles. He stressed that any privatization initiative must prioritize three key areas: wages, housing, and education for workers' children.

Under the master plan, the government aims to increase private investment to RM78 billion, contribute RM82 billion to the economy, and create 900,000 jobs by 2030.

https://www.nst.com.my/news/nation/2024/09/1103792/public-private-partnerships-must-ensure-growth-balanced