KUALA LUMPUR – The progress of Bumiputera commerce was the focus of Datuk Seri Tajuddin Abdul Rahman’s (Pasir Salak-BN) speech in Parliament today, as he suggested that the Employees’ Provident Fund could be utilised to develop entrepreneurs in such companies.
The BN lawmaker said despite EPF being a central source of monetary investment, it has not been used to assist Bumiputera companies.
Tajuddin pointed out that it would be a novel move to utilise EPF to assist local commerce as companies have benefited from the fund.
“Take the Battersea project in London by Ecoworld, behind which EPF threw its support and investment as an example.
“Similarly, EPF was used to help YTL with many projects too.
“I want to remind EPF that it has a role, and it can help Bumiputera companies develop like other successful organisations,” Tajuddin told the Dewan Rakyat.
He bemoaned the competition between government-linked companies (GLCs) and Bumiputera companies, and said that larger commercial organisations with ties to Putrajaya should instead help growing companies.
Tajuddin said that before the 14th general election, the Barisan Nasional administration had introduced policies wherein GLCs are required to assist Bumiputera entrepreneurs and companies, and demanded a progress report on the matter.
“These GLCs comprise giant institutions with large funds that can actually help Bumiputera companies.
“These smaller companies, with their help, could grow large one day.
“When BN was in power, the government introduced a policy to encourage GLCs to assist Bumiputera companies. I hope for a detailed report on its progress,” Tajuddin said.– The Vibes, November 24, 2021
