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1.01. The First Outline Perspective Plan (OPPI), covering the period 1971- 90, has come to an end. Under it, the Government has implemented four development plans from the Second Malaysia Plan (1971-75) to the Fifth Malaysia Plan (1986-90). These development plans have been implemented within the framework of the New Economic Policy (NEP) which was introduced by the Government in 1970, after the racial riots in 1969, to promote growth with equity with the objective of fostering national unity among the various races. 1.02. The Second Outline Perspective Plan (OPP2), covering the period 1991- 2000, has been formulated based on a policy which will be called the New Development Policy (NDP). The NDP will build upon the achievements during the OPPI to accelerate the process of eradicating poverty and restructuring society so as to correct social and economic imbalances. It provides a broader framework for achieving these socioeconomic objectives in the next ten years within the context of a rapidly expanding economy. In formulating the NDP, the Government has considered the views and proposals from various groups including the report of the National Economic Consultative Council on the post-1990 policy for the country.
1.04. The NDP will set the pace to enable Malaysia to become a fully developed nation by the year 2020 not only economically but also in all other aspects. It has to be fully developed in terms of national unity and social cohesion, in terms of its economy, in terms of social justice, political stability, system of government, quality of life, social and spiritual values, national pride and confidence. The Government envisions that by the year 2020, Malaysia will be a united nation, with a confident Malaysian society, infused by strong moral and ethical values, living in a society that is democratic, liberal and tolerant, caring, economically just and equitable, progressive and prosperous, and in full possession of an economy that is competitive, dynamic, robust, resilient and socially just.
1.05. While the NDP maintains the basic strategies of the NEP, its new dimensions will be to:
(a) shift the focus of the anti-poverty strategy towards eradication of hardcore poverty while at the same time reducing relative poverty;
1.06. The efforts under the NDP to correct economic imbalances will focus on the expansion of capacities to generate income and create wealth as well as to provide the skills for the Bumiputera to effectively retain and manage their wealth. This strategy represents a major shift from the previous emphasis on associating equity ownership with wealth. In line with this new emphasis and in order to increase Bumiputera participation in the commercial and industrial sectors of the economy, more attention will be given towards strengthening the capacities of the Bumiputera to effectively manage, operate and own businesses rather than on achieving specific numerical targets of equity restructuring and ownership. Thus, while efforts will continue to be made under the NDP to increase Bumiputera ownership, no specific time frame has been set for the attainment of the equity restructuring target of at least 30 per cent. However, by the year 2000, a review of the achievement of this target will be made.