.anwaribrahim says ‘Ali Baba’ losses amount to 1% of GDP
He said the losses were linked to procurement, licensing, permits and quotas, as well as subsidies and grants. According to the statistics department, last year’s GDP amounted to RM1.8 trillion at current prices and RM1.5 trillion at constant prices.In a statement, Anwar said the National Economic Action Council yesterday reaffirmed its commitment to eradicate rent-seeking, which is commonly known as the “Ali Baba” culture.
Over 20 units booked at The Horizon’s grand launch Kota Kinabalu: The grand launch of The Horizon at Damai saw a good response with more than 20 condominium units booked, Sunday. Read more “Ali Baba” is a business practice in which those who win projects or contracts then sub-contract the real work to others for a profit. The term also applies to locals who own businesses but rent them out to foreigners to operate.
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