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Government Reiterates 30 Per Cent Bumi Equity Target By 2020

[ 24-06-2014 ]
Government Reiterates 30 Per Cent Bumi Equity Target By 2020
KUALA LUMPUR, June 12 (Bernama) -- The government has reiterated its target of increasing the Bumiputera equity ownership in the national economic pie to 30 per cent by 2020 from 24 per cent currently.

Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar said back in 1970, Bumiputera equity ownership stood at only 2.4 per cent, very low for a community that forms the majority in the country.

"That is why we came up with various programmes, such as investment schemes, to make sure we are able to increase the equity level.

"The 24 per cent level achieved now is a vast improvement from the 2.4 per cent Bumiputera equity ownership after over 40 years," he told reporters after the 21st Nation Building Series dialogue, themed "Revisiting the New Economic Model", last night.

He emphasised that this would not be at the expense of the non-Bumiputeras, adding that the idea is to enlarge the size of the economic cake and making sure everybody is given a fair opportunity to participate in the economy.

Abdul Wahid also said that the government does help those people who are marginalised, regardless of whether they are the majority or a minority.

"They are given equitable opportunities in terms of education as well when we take into account the economic background of people," he said.

Some students who obtained straight As were not given scholarship as they came from affluent families who could afford their education, he said.

"If someone from a poor family gets 9As or 7As for the SPM, compared to someone with 9As living in Damansara Heights where parents' monthly incomes exceed RM50,000, which one deserves the scholarship?

"By right, we should support and help the students who score straight As. But if we give a scholarship to those from affluent families, it's like giving a scholarship to their parents.

"But then again, we do help those people who are marginalised, meaning that it doesn't matter whether you are majority or minority, if you need help, we will provide it," he said.