Privatization must not sideline workers, says Malaysian PM Anwar

Malaysian Prime Minister Anwar Ibrahim has asserted that the process of privatization must not solely focus on profit and efficiency to the detriment of employee well-being. He stressed that the success of privatization initiatives should be measured by the tangible benefits workers receive, advocating for a more inclusive model.

"Privatization cannot be just about hoarding wealth, improving the position of the elite, and sidelining workers," Anwar stated during the 80th anniversary celebration of Telekom Malaysia (TM). He emphasized that worker welfare must be an integral part of any privatization consideration, ensuring that the gains from economic development are distributed more equitably. Anwar recalled that during the privatization of the Telecommunications Department in the 1990s, the government prioritized not only efficiency and profit but also worker welfare, including better wages, housing, and education for their children.

Furthermore, Anwar urged Malaysians to move beyond complacency and actively embrace change and innovation. He warned against settling for current achievements, which could lead to stagnation and weakness. "Sometimes if an agency or company loses RM10 billion, RM12 billion, but we still say, 'Okay, it's nothing, it's normal.' Normal what? It cannot be," he remarked, highlighting the need for a strong determination to drive progress.

He stressed that Malaysia must advance rapidly to keep pace with global changes, particularly in technology, artificial intelligence, and quantum computing. Anwar expressed pride in Telekom Malaysia and Multimedia University (MMU) for their swift adoption of the nation's digital transformation agenda, noting their readiness to embrace new developments.