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Tackle financial crisis prudently, advises Raja Nazrin Shah

IPOH, 20 Oct 2008: The Raja Muda of Perak, Raja Dr Nazrin Shah, said today the current serious global financial crisis could have a long-term impact on the economic climate unless it was tackled prudently and effectively.

He said the global economic situation would have an effect on the country’s economy in the sense that it could stifle economic growth, cause investments to contract and deny new employment opportunities or bring about retrenchments.

Economic resources and sources of wealth should be developed prudently, managed with trust and transparency, and distributed fairly for the benefit of all the people, he said at the 163rd conference of the Perak Council of Islamic Religion and Malay Customs (MAIAMP), here.

Raja Nazrin said the people should learn from the failures in the management of economic resources and sources of wealth around the world.

“There are countries blessed with various natural resources but they remain backward, with an imbalance in their infrastructure development which is concentrated in the capital city or several cities and a majority of their people poor and lowly educated.

“On the other hand, there are countries devoid of natural resources which have progressed into developed nations, with extensive and comprehensive infrastructure development and their people enjoying prosperity and a high degree of academic achievement and knowledge,” he said.

Raja Nazrin said that based on the contrasting scenarios, the people should realise that prudent leadership and management of resources in a productive, transparent and just manner were important in determining the success and progress of any institution, organisation and country.  

“In facing ever-changing challenges, along with differing new opportunities, the people have to be prepared and bold to institute reforms, accept new ideas, instil new thinking and adopt new methods different from yesterday’s.  

“People who desire to bring about and achieve progress are not afraid of and do not shudder to institute change, in fact they positively interpret change as the steps to success,” he said.

Earlier, Raja Nazrin received the 2007 business tithe of RM3.79 million from the Perak Water Board which was presented by Perak Menteri Besar Datuk Seri Mohammad Nizar Jamaluddin.

Business tithes were also presented by the Perak Agriculture Development Corporation (RM857,011), Ladang Jalong Sdn Bhd (RM707,433), Ladang Lekir (RM251,815) and Perak SADC Management Services (RM53,010).

Other agencies which also handed over their business tithes were Koperasi Guru-Guru Melayu Malaysia Perak Berhad and Bank Persatuan.  

At the same function, Raja Nazrin presented the instrument of appointment of MAIAMP member to Orang Besar Jajahan Manjung, Toh Muda Orang Kaya-Kaya Panglima Kinta Seri Amar DiRaja Abdul Wahab Datuk Seri Azizul Hasni.

He also presented the instrument of appointment of Perak Syariah High Court judge to Abdul Kader Mohamed and Abdul Halim Azizi Abdul Rahman. — Bernama



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