18 Sep 2008

Hamidah Atan

PUTRAJAYA: Prime Minister Datuk Seri Abdullah Ahmad Badawi yesterday swapped the finance and defence cabinet portfolios with Datuk Seri Najib Razak as part of the 2010 succession plan.

As finance minister, Najib will be in charge of economic policy and specifically the implementation of the Ninth Malaysia Plan - an essential step before his promotion to the top job.

Abdullah will take over from Najib as defence minister, a senior cabinet position traditionally held by the highest ranking members of government. Najib was also appointed deputy chairman of Khazanah Nasional Berhad. The appointments came into effect immediately.

The prime minister also indicated that he might step down before June 2010 if his reform agenda was accomplished sooner than expected. Abdullah, the Umno president, told a press conference, which was also attended by Najib, after chairing the weekly cabinet meeting at the Prime Minister's Office that he and Najib remained committed to Umno's 2010 leadership succession timetable.

"One of the things agreed to in the plan was that I would hand over to Najib several roles which I have been carrying out as prime minister. "The time has come for me to hand over the position of finance minister to Najib. The cabinet has been told about this." Abdullah said he decided on the switch after taking into consideration the present economic situation and future of the country. "This is a very important portfolio. This (swap) will ensure all our plans will be continued to strengthen the economy and meet present and future challenges.

"Najib, as my successor, can definitely play his role well in developing the country's economy." Abdullah said Najib would fly to New York soon to deliver his speech at the United Nations General Assembly. "There, he can meet the American fund managers and investors. It will be a good opportunity for him. "I believe fund managers, investors and chief executive officers of US-based companies operating in Malaysia also want to meet Najib to discuss his views and give information on economic issues for the benefit of our country."

Abdullah said he would stay as prime minister. "I will continue with my responsibility as the prime minister to deal with issues of great concern to all Malaysians - social, religious, on race relations, the judiciary and reform of government agencies. "From time to time, I will see how I fare in implementing all this and how soon Najib can adapt to the new roles and responsibilities.

"The timing of my passing the baton to Najib will be flexible. I will decide when to go. I will not be staying beyond 2010 naturally, but will be more flexible. "If I want to go earlier, it is possible. We will convey this to the Umno supreme council meeting." Abdullah and Najib reaffirmed that the transition timetable was on track yesterday after International Trade and Industry Minister Tan Sri Muhyiddin Yassin, an Umno vice-president, raised doubts and asked for it to be speeded up.

The plan will be explained and presented again to the Umno supreme council today with the declaration that Abdullah and Najib will contest the party presidency and deputy presidency respectively. The solidity of the Abdullah-Najib pact effectively puts paid to Muhyiddin's rumoured pitch for one of the top two party posts and sends Tengku Razaleigh Hamzah's bid for the presidency back to the sidelines. Pressed on whether the transfer of power could take place before 2010, Abdullah did not dismiss the possibility.

"Maybe. The handing over of power is a process. It is not for you to ask and not for me to say at this moment. It is a process which will be decided between now and 2010. "We will study the process to see how it progresses. As we go along, we will decide accordingly what we need to do. "After that, I will tell Najib what I want to do. That is the agreement between us. For now, I am still the prime minister and Najib is my deputy."

Najib said the appointment reflected Abdullah's confidence in him. "I am very thankful to Yang Berhormat (Abdullah) for his confidence in appointing me as finance minister. This very important position, according to the practice of the Malaysian government, is usually held by the prime minister himself. "His decision is magnanimous and reflects his sincerity about me as his successor. I really appreciate his decision which reflects his confidence in me.

"I will refer and discuss with the prime minister important economic issues and matters relating to the determination of policies, directions and priorities. "Without a doubt, the finance minister and prime minister must work closely together so that government policies are clearer and can fulfil the needs of the rakyat." Najib also said he and Abdullah had agreed with the succession plan. "I hope the plan will be accepted by the party and rakyat for the country's and party's stability."

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