CYBERJAYA: Privatisation must put workers first and ensure they share in the benefits of corporate success, rather than simply creating greater profits or enriching those at the top, says Datuk Seri Anwar Ibrahim.
The Prime Minister, who was finance minister in the 1990s, recalled how the government approached the privatisation of major national entities, including the then Jabatan Telekom, with a focus that went beyond profitability and efficiency.
Anwar said workers’ welfare had to be a key consideration, including whether they would receive better wages and housing, while their children gained better opportunities in education.
“Profit and efficiency are not in question. But first and foremost, the welfare of workers,” he said at TM’s 80th anniversary celebration here on Wednesday (Aug 26).
He said the government, under then prime minister Tun Dr Mahathir Mohamad, had decided that major national entities such as PETRONAS, Tenaga Nasional Bhd and TM should set a different example of privatisation.
Anwar said the success of privatisation should therefore be measured not only by higher profits, but also by whether workers and their families enjoyed tangible improvements in their lives.
“Does privatisation, with much higher profits, provide better returns and benefits to workers?
“Can workers’ housing be improved? Are their wages and salaries more rewarding? What about their children, their schooling, welfare and education?” he said.
Anwar said privatisation should not become a means of amassing wealth for those at the top while marginalising workers.
He said he was pleased that TM had grown into a company recognised not only for its financial performance and technological advances, but also for its efforts towards its workers and the surrounding community.
However, Anwar cautioned that corporate and national success must not breed complacency.
He said Malaysia needed to reject what he described as a “culture of contentment”, where institutions became comfortable with their achievements and tolerated weaknesses or poor performance.
“Sometimes an agency or company loses RM10bil or RM12bil, yet we still say, ‘Okay, it’s fine’. No, it cannot be that way.
“This culture will not make us comfortable. It will destroy us,” he said.
Anwar said Malaysia could not afford to normalise failure or remain satisfied with the status quo, stressing that organisations must constantly strive for excellence and strengthen governance.
He said the country had to move faster and embrace change if it wanted to remain competitive and continue raising its standing.
The Prime Minister said this spirit of continuous improvement should extend across Malaysian institutions, with success measured not only by performance but also by the benefits delivered to workers and society.
