KUALA LUMPUR: The Bumiputera equity has yet to reach the 30 per cent quota even after 50 years of implementation, the August House heard today.
Following this, Prime Minister Datuk Seri Anwar Ibrahim when tabling the mid-term review of the 12th Malaysian Plan (12MP) today said the government will review the approach to ensure the level of participation will be more meaningful.
"Every plan under the Bumiputera empowerment agenda previously was merely focused towards participation in the economy sector based solely on equity ownership, (and) the ownership has yet to reach the 50 per cent target after 50 years.
"Hence, the Madani economy through the mid-term of 12MP, among others, will review the approach that measures the participation rate and the control of the Bumiputera economy which is more meaningful," he said when tabling the review in Dewan Rakyat, today.
Anwar added that an economic congress on Bumiputera would be held in January 2024 to establish a new direction and approach that is more fair, equal and inclusive.
"Meaningful efforts to empower Bumpiteras will now shift from a focus on selected companies to an empowerment programme that involves more entrepreneurs as well as small and medium scale Bumiputera companies.
"This is to create a middle-class category of Bumiputera that can build the business, increase their income and consequently add value to the (nation's) economy, rather than solely relying on their (monthly) wages."
He also said Bumiputera companies will also continue to be given the opportunity to receive the funding allocated by the government through 16 agencies, namely Majlis Amanah Rakyat (Mara), Ekuiti Nasional Bhd (Ekuinas) and Permodalan Nasional Bhd (PNB).