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The goal of the NEP was never to put economic power into the hands of the poor. The poor don’t have companies.
Murray Hunt
Data from the Statistics Bureau shows that the median monthly salary of Bumiputera workers is 45% lower than that of Chinese employees in the formal sector. 2024 Indigenous Economic ConferenceAfterwards, the Malay-Kuddanan tendencies of the Madani government became apparent.
These dramas are staged to enable the New Economic Policy (NEP), a hybrid equal opportunity policy, to continue to pursue a policy of Malay supremacy using a “Western” framework of diversity, equity and inclusion.
The fact that the Fair Chance Act is centered around wealth creation in the Indigenous business community shows that this DEI ploy is simply designed to make the rich richer.
As long as the wealth of the Bumiputera lags behind that of everyone else, Malaysia’s elite will grow richer at the expense of everyone else, including the Malays.
In 2006, Dr. Lim Teck Ghee, then head of think tank ASLI, published a research report stating that the NEP’s 30% Bumiputera business equity target had been achieved. Dr. Lim Teck Ghee was personally attacked and left ASLI.
Please note: the goal of the NEP was never to put economic power into the hands of the poor. The poor do not have companies.
Aboriginal rights: Asli report ‘will be vindicated’
Malaysiakini March 23, 2020 07 12:04pm
Dr Lim Teck Ghee, who was at the centre of last year’s Bumiputera equity controversy, has reason to feel vindicated.
Yesterday, Prime Minister Abdullah Ahmed Badawi Tell Parliament said the government hopes to achieve a 30 per cent shareholding in Bumiputera businesses within three years.
Lin Deyi was harassed and brought shame to the authorities for speaking the truth.
Lim Guan Eng had previously said that the Bumiputera share of the government’s corporate equity had exceeded 30%, and believed the figure could be as high as 45%, more than double the government’s estimate.
But the government vehemently denies this. According to official statistics, the Bumiputera share in the corporate sector is about 18.9%.
Abdullah did not explain in his written reply in parliament yesterday how the government would make up the deficit in just three years.
The prime minister also did not say whether the government’s preferential treatment of the country’s indigenous people would continue after 2010.
Lim Guan Eng, a former World Bank official, believes that the goal can indeed be achieved sooner than in 2010.
“When the target is announced, I believe the results of the Asli company equity distribution report will be vindicated,” he said, referring to the Asian Strategy and Leadership Institute report that sparked the Bumiputera equity debate a few months ago.
Statistics Master
At the height of the controversy, Lim Resignation In Asli, the think tank withdrew the controversial report after facing huge pressure.
Lim said the prime minister’s statement “lays the foundation for civil service statistics chiefs to set a clear date to achieve this target”.
“Given the recent unrest, I am optimistic that this milestone will eventually be achieved soon.”
However, he said there were several other issues Abdullah should address now.
“One is to ensure that during the remaining three years of the conditionality, it is the poor Bumiputeras who become the beneficiaries of the quota conditionality, rather than the wealthy politically connected ones.”
Lim said this requires greater transparency and disclosure by the government in achieving this goal, especially in the New Economic Policy (NEP).
“Another reason is that corporate equity conditions are only a small part of a system of racial privilege. This larger system must be dismantled if the country is to become a united, cohesive nation.”
Gifts for Malaysian youth
The New Economic Policy was introduced in 1970 as part of a bold blueprint to reduce income disparities between different ethnic groups. This included a range of measures, including a 30% Bumiputera parity target.
The policy was to be in force for 20 years, but it continued after 1990 under a different name, the New Development Policy, until 2000.
The National Vision policy was originally to be implemented between 2001 and 2010. However, the government revived the NEP objectives in the Ninth Malaysia Plan launched last year.
The debate on the NEP targets has intensified following two studies – the Asli report and Research at the University of Malaya ——Indicates that the goal has been achieved.
The government said that figure was 18.9% at the end of 2004 and said the New Economic Policy would last until 2020.
“On the eve of the 50th anniversary of independence, the best gift that Pak can give to young Malaysians is to define a new historic direction for the country, where all Malaysians are treated equally, regardless of race, religion, political affiliation, class and region; and where resources and special attention are provided to the poor and vulnerable to help them improve their lives,” said Lim Guan Eng.
The continuation of racial economic policies is a cover-up. These policies are built on false pretenses and actually only enrich a small and powerful group of people. It’s all hidden behind racial politics.
Posts The lie of racial economics continues First appeared in Malaysia Today.
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