Pak Lah, please set retirement date
Malaysiakini.com
May 22, 2008 
Ahti Veeranggan

The current political crisis besieging Umno can only be resolved when Abdullah Ahmad Badawi announced a time frame to step down gracefully, a DAP parliamentarian said today.
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If not the federal government will continue to be engulfed by political turmoil and uncertainty, and this does not bode well for the country's economy in the long run, Jelutong MP Jeff Ooi told Malaysiakini.

parliament briefing 030408 jeff ooiThe beleaguered Abdullah has to act quickly to quell the on-going crisis, he added.

Ooi said the prime minister should fix a suitable date and time to step down and initiate a smooth transition of power to his successor.

"Many economists and financial analysts have predicted a downturn in foreign investments and an economic slump in the long run if the crisis continues unchecked.

"So Pak Lah must act by announcing his retirement plan. It will restore investors' confidence in the long run," the MP said, adding that investors would not want to invest in a politically unstable country.

"Since all investors come in for the long haul, they would not want to put their money in a country mired in political uncertainties," said Ooi who is also Penang Chief Minister Lim Guan Eng's chief-of-staff.

Sooner than later

On Tuesday, Universiti Sains Malaysia senior lecturer Sivamurugan Pandian warned that the current political crisis would result in foreign investors shying away from the country.

He called on Abdullah to undertake pro-active steps to stem the crisis sooner than later.

Abdullah is under siege from critics from inside and outside Umno calling him to step down as party president and the country's fifth prime minister to take responsibility for Barisan Nasional's recent dismal electoral showing.

Meanwhile, Ooi's views were not shared by the world's biggest printed circuit board maker, Ibiden Co Ltd.

The Japanese manufacturer, which announced an investment worth RM1.2 billion in the next 12 months to set up its third manufacturing plant in Penang, said the company was unperturbed by the current political crisis in Malaysia.

Company manager Yutaka Torimaru said that Ibiden has full confidence in Malaysia’s democratic-based political system, which he described as "far more secure and stable than many other countries in the region."

Chief Minister Lim echoed that Ibiden's confidence in Penang proved that foreign investors were not swayed by Umno’s political dramas.

"Penang CAT governance, based on competency, accountability and transparency would continue to attract foreign investments," he said.

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