KUALA LUMPUR: The 12th Malaysia Plan (12MP) Mid-Term Review (MTR) which will be tabled by Prime Minister Datuk Seri Anwar Ibrahim on Monday encompasses 17 policy shifts or radical approaches, in line with the current economic situation.
Economy Minister Rafizi Ramli said the policy transitions will provide a way out from issues which arose during the 10th Malaysia Plan and the 11th Malaysia Plan.
"We always talk about the country being 'trapped', such as the weakening economy, low (ringgit) value and dependency on foreign labour - these issues keep re-emerging and the policies which were previously implemented were not radical enough, in my opinion.
"As such, the government is taking a radical approach to resolve major issues in the country's economic structure," he said to Bernama after his appearance as a guest on Bernama TV's Buletin Bernama tonight.
Rafizi said the policy transitions take into account the views of industries and stakeholders, as well as the country's financial capacity, the availability of skills and the people's acceptance.
"The launch of the National Energy Transition Roadmap was a major move taken by the government ahead of the tabling of the MTR, and the response seems to be positive.
"We have a great commitment to change our approach because these problems have been going on for a long time and the current mandate should be continued with radical reforms," he said.
Even though there may be some parties who would not be too keen on the reforms, Rafizi said he is confident that within two to three years, industries as well as the people will be able to see and be receptive to the results from the policy transitions.
The six-day special sitting of the Dewan Rakyat, slated to begin on Monday, will focus on the tabling of the 12MP MTR.
The MTR was carried out to evaluate the achievements of the five-year plan in its first two years (2021-2022) and the direction for the next three years (2023-2025) towards achieving a sustainable, prosperous, and high-income nation, taking into account current domestic challenges and global trends.
The 12MP was tabled by the 9th Prime Minister Datuk Seri Ismail Sabri Yaakob on Sept 27, 2021, with an estimated development allocation of RM400 billion.