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KUALA LUMPUR: The economic agenda of Bumiputra will now be under the responsibility of the Prime Minister.
Tan Sri Muhyiddin Yassin made the announcement at the closing ceremony of the Bumiputra Economic Congress presenting him with nine resolutions.
“I would like to announce that the welfare of the Bumiputra will now be directly under my purview,” he said at the closing of the month-long congress here on Thursday (October 1).
He said this was one of the requests made by the Malaysian Consultative Council of Malaysia (MPM).
He added that an implementation committee would be formed and headed by the minister of the Prime Minister’s Department, Datuk Seri Mustapa Mohamed, who will work with the MPM to implement the resolutions presented to the government.
At the beginning of his speech, Muhyiddin said that despite the many strategies and programs to uplift the Bumiputra community, they still lagged behind the other races.
According to a study last year, it said that poverty among the Bumiputras was the highest at 7.2% compared to 1.4% among Chinese and 4.8% among Indians.
“Apart from this, the income disparity between the Bumiputras and the Chinese last year was 2,802 ringgit, which is four times higher than in 1989.
“These two indicators paint a picture that the Bumiputras are still lagging behind the other breeds despite the efforts made through Malaysia’s various development plans and the New Economic Policy (NEP),” he added.
To overcome this, he said the Bumiputera community must keep abreast of global economic developments, including the development of a positive ecosystem that is more competitive.
To achieve a “bumiputra renaissance,” Muhyiddin said that successful Bumiputra companies should embrace a “pay-in-advance” concept to help the next generation of Bumiputras succeed.
“It is time for those who have benefited from NEP to return gratitude by giving back to the next generation.
“For example, those who work in companies have the opportunity to lay the groundwork for those who need help by providing them with mentor capital and network capital,” he said.
Among the nine resolutions presented by the congress is that Majlis Amanah Rakyat (Mara) and the Islamic Economic Development Foundation (Yapeim) are under the Prime Minister’s Department.
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