KUALA LUMPUR – The 12th Malaysia Plan (12MP) tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob has received rave reviews from political observers, but his Bumi-centric policies have split opinions.
While one analyst poured scorn on Ismail Sabri’s focus on giving aid along racial lines, another said the move to assist Bumiputeras is necessary considering that the group makes up the majority of those in the B40 income bracket.
Speaking to The Vibes, Universiti Malaya’s Prof Awang Azman Awang Pawi said Bumiputeras continue to be left behind economically compared with their non-Bumi peers, hence, they require more attention.
He warned that should the government ignore Bumiputeras’ plights, it could lead to a wider income gap between the two groups, and noted that the community has a corporate equity ownership of only 17% today.
Despite the empowerment of Bumiputeras, he said, Ismail Sabri has not left out aid policies for poor Malaysians of other races.
The concept of social justice is still there to see. Yes, the prime minister spoke about Bumiputera development, but non-Bumis are not neglected.”
When tabling 12MP, Ismail Sabri announced that Bumi-owned companies and shares can soon be sold only to fellow Bumiputera consortiums, firms and individuals, among several measures to empower the community.
He said the relevant ministries and agencies will regulate the holdings and disposal of Bumiputera companies, and the implementation of home ownership quotas will also be strengthened.
Additionally, the government will fortify the resilience and sustainability of Bumiputera micro, small and medium enterprises to achieve the target of 15% contribution to gross domestic product by 2025.
Awang Azman said to hit the 30% Bumi equity target set years ago, it is pertinent that Ismail Sabri and his government overcome all existing weaknesses that continue to bog down the group.
“We need to see how far the government is able to address leakages and the abuse of power, and how well its training and education can reach the targeted groups.”
Beyond this, he said, 12MP is the perfection of past ideas and plans, with Ismail Sabri putting the “final touches” to what is essentially a policy drafted by his predecessor Tan Sri Muhyiddin Yassin.
Singapore Institute of International Affairs senior fellow Oh Ei Sun similarly believes that the five-year plan – the first major policy to be announced by Ismail Sabri – is sound and balanced.
He said Ismail Sabri’s focus on prosperity, inclusivity and sustainability is particularly commendable, as centring the government’s attention too much on economic growth in a post-pandemic world is unrealistic.
The one sore point in 12MP, according to Oh, is the government’s continued racial narrative in drawing up national policies, namely the one on Bumiputeras.
After more than half a century of nationhood, I think it’s time to move away from this, move towards a needs-based narrative. We should talk about regional and socio-economic imbalances instead.
“I don’t mean to say poverty among Malaysians is not real. It is real. But Ismail Sabri could have delineated aid along income and regional lines instead.”
Commenting on the policy allowing only Bumiputeras to buy Bumi firms and shares, he said this is counterproductive and could backfire tremendously on Ismail Sabri.
He cited complaints he has heard in the past of people having difficulties selling their Bumiputera-exclusive houses, as there were no takers from those in the community.
“Whether this (policy) is because he is trying to win the hearts of the Malays in the elections, I feel like it’s more because he needs to do it to maintain support.
“The fact that he does will not actually win their hearts or gain any brownie points. But if he doesn’t, then, he will lose them.” – The Vibes, September 28, 2021
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