This paper takes a fresh look at the issue of privatisation in Malaysia and examines whether the concerns raised by earlier privatisation programmes can be addressed by a new concept of ‘Responsible Privatisation.’

The prospect of a new wave of privatisation in Malaysia has been raised in the first budget speech of the new Pakatan Harapan (PH) government and in recent announcements that preceded it. The focus is to reduce the role of the Government in the economy and dispose of particular assets as a potential means of raising money to cut Malaysia’s national debt. For many this raises the spectre of past experiences of privatisation which are characterised as being plagued by cronyism, expropriation of profits at the expense of the Rakyat and a loss of social and strategic focus in Malaysia’s development.