Yes, the country needs to progress and jettison itself in the high income economy bracket. The assumption is that high income means better standard of living. To achieve it, however, should not be artificially driven that may lead to lop-sided economic enrichment of the haves. The havenots remain at the periphery and marginalised. There should be wholesome growth and betterment for all.
Congratulations to the GLC CEOs and others including that of TH (RM1.5million) for being already on the highway of superhigh income economy. Make Najib happy. Who bastardized the GLC's?
The brilliant idea of Tabung Haji when first mooted by Ungku Aziz years ago is to galvanise savings of would be haj performers and provide with an efficient service system of sending them to Mekah. It becomes so successful that other countries want to emulate TH. However, the initial intention of setting it up got lost along the way. Of late it has been hijacked into a supposedly money making corporation with service comes next. The accelerated increase in fares is the testimony.
GLCs are not private companies but belong to the government meaning that part of the tax payers money are invested in them. On that basis the CEOs are overpaid especially the topmost one! But then he is the PM's brother.
In the case of TH it is understood that the money comes initially from the savings of millions of people for haj purposes. Is it justified to follow the pay-scheme of the other GLC CEOs just because they are getting that much pay?
The GLC CEOs are said to bring in much profit to the companies and thus deserve such salaries. Consider then the PM, DPM and MBs bring in investments and create the necessary economic environment in the country but their salaries are 2-10 times lower than that of the CEOs. We are talking about responsibilities, remunerations, and equitable balance in allocations. I am not proposing that politicians pay should increase. As it is they are getting reasonable amounts.
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