Putrajaya reiterates 30% Bumiputera equity target by 2020 – Bernama
Putrajaya has reiterated its target of increasing the Bumiputera equity ownership in the national economic pie to 30% by 2020 from the current 24%.
Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar (pic) said back in 1970, Bumiputera equity ownership stood at only 2.4%, 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% level achieved now is a vast improvement from the 2.4% 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-Bumiputera, 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.
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. – Bernama, June 12, 2014.
