I actually agree with Prime Minister Najib Razak that the government of Malaysia has, over the years, provided numerous “keys” for business people to become super-rich.

However, this is only one half of the story. We must remind the government, past, present and future, of the other half.

If a savvy businessman can become a billionaire with just one contract or concession from the government, what does that tell us?

We have seen many trade monopolies, privatisation and concessions generously dished out at the expense of ordinary people.

When business people become too rich too quickly, it is not due to entrepreneurship alone. The concessions, licences and contracts give them too much advantage at the expense of ordinary citizens.

On the other hand, we have also seen the government wasting many “keys” on people who have neither the aptitude nor the know-how to properly manage any privatisation project or concession. Numerous lucrative privatisation projects and concessions were run belly-up, the cost of which was ultimately borne by the people.

I do not have to provide specific examples; I think our economic history is riddled with inexcusable mega failures because the government has stubbornly selected unworthy people to helm these projects.

It would be good to remind the government that dishing out keys is not a thoughtless job.

First, the key is a facilitation tool not a profiteering instrument. Privatisation, concessions and contracts must safeguard public interests, not give undue advantage to business people to make unfettered profits.

Second, there must be due diligence performed on those selected to accept the keys. Not everyone is responsible or entrepreneurial enough to run a business.

TK Chua is an FMT reader.

The views expressed are those of the writer and do not necessarily reflect those of FMT.