Academics and a lawmaker have urged Putrajaya to divest from government-linked companies (GLCs) and public-listed companies (PLCs) to enable a more level playing field for private business.

At a public forum on Budget 2020 today, think tank Ideas’ research director Laurence Todd opined that the government’s involvement in the economy had ignited concerns around competition and the liquidity of capital markets.

He, thus, proposed that Putrajaya shed all of its majority stakes in the 70 PLCs it invested in except for cases of “clear and demonstrable” public interest...