KUALA LUMPUR – A Pakatan Harapan lawmaker today pinned the blame on the government for issues plaguing Bumiputeras today, saying discriminatory policies are the reason the community is impoverished.
Speaking in the Dewan Rakyat, Nga Kor Ming (Teluk Intan-PH) highlighted how, despite more than 50 years since the New Economic Policy was introduced, Bumiputeras only hold 17.2% of corporate equities in the country.
“What went wrong? Is it because of the restrictions upon restrictions that were introduced by the government on the group?” he asked, when debating the 12th Malaysia Plan (12MP) today.
Nga cited a new policy in the 12MP requiring Bumi-owned companies and shares to only be sold to fellow Bumiputera consortiums, firms and individuals as certain to be disadvantageous to the community.
Giving an example of a Bumiputera firm valued at RM1 million, the lawmaker said with the policy introduced yesterday, the entity would now be unable to sell the firm, even if a foreign investor offered double the value.
“Now, it has to wait for another Bumiputera company to purchase, perhaps an Umno or Perikatan Nasional crony. As such, the price will be lower.
“And, it is these restrictions that are making Bumiputeras ever poorer.”
In another example, he said land in Kg Baru, valued at around RM1,000 per sq m, is considerably lower than the RM3,000 per sq m value of land in the KLCC area.
“The price is three times lower, even though the location is adjacent. This is because of the government’s policies that discriminate against the Bumiputeras, where they are not given the freedom to sell and buy.”
When tabling the 12MP yesterday, Prime Minister Datuk Seri Ismail Sabri Yaakob (Bera-BN) had announced that only Bumiputera entities will be able to buy equities from a fellow Bumiputera, among several measures the government is taking to empower the community.
He said the relevant ministries and agencies will also regulate the holdings and disposal of Bumiputera companies.
Nga said it is incumbent on the government to take on a new way of thinking to make the Malaysia agenda one that is for all Malaysians.
“The Malays are our children, so are the Chinese, Indians, Bajaus and Kadazans. They are all Bangsa Malaysia. Why have discriminatory practices in the 21st century?” – The Vibes, September 28, 2021
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