PKR has challenged the BN-led federal government to reveal the recipients of the 1.5 million shares that it said had been distributed to bumiputeras in 2010.

NONE Responding to the government’s recent declaration that 22 percent bumiputera equity had been reached in 2010, PKR secretary-general Saifuddin Nasution Ismail ( right ) it was meaningless to flaunt any such achievements if it remained un-transparent and unaccountable about the process and other details of such distribution exercises.

In addition to transparency in declaring the recipients of the bumiputera shares, Saifuddin also dared the government to put in place mechanisms to track and ensure that shares given to bumiputera remain in bumiputera hands and go to the right persons.

“I call upon the minister to fully disclose the recipients of the 1.5 million shares allocated in 2010 and announce to the public improvements made to the mechanisms for distribution and tracking of the shares to ensure the same abuse is not repeated,” he said in a statement.

bumiputera economic congress 290510 crowd Saifuddin said PKR’s main concern over such distribution exercises purportedly to improve bumiputeras’ share of the pie is what he said was the same flawed mechanisms to create such equity boosts.

More so, Saifuddin said further, when the shares may have been given to the same ruling elite who continue to hoard the country's wealth instead of benefitting the other 40 percent bumiputeras who are barely living above the poverty line.

“It is the same mechanism that had failed the society under the guise of meeting the 30 percent target.

“In the end billions worth of shares distributed were quickly disposed to create a Malay ruling elite with immense wealth at the expense of the Malay masses,” added the Machang MP.

Transparency, tracking required

He said he fears the new batch of share allocations will meet the same fate.

Saifuddin also cited the revelation contended that the old methods of distribution had failed the bumiputera in general, abuses and mismanagement causing RM52 billion out of RM54 billion in bumiputera equity to disappear in the past.

He said PKR believe that the main thrust of economic empowerment should be on elevating the household income of the 11 million bumiputera poor rather than on equity.

“The obsession with 30 percent equity ownership will not address the economic woes of the poorest of the bumiputera,” said Saifuddin.

The failure to reach the targeted 30 percent bumiputera equity ownership has been used by Malay rights NGOs and the BN government to justify perpetuating policies favouring bumiputeras in the New Economic Model.

Critics and the opposition, however, have decried the continuation of such policies as a means to enrich the ruling political elite via selective distribution while not actually benefitting the masses.

    

NONE In a press conference earlier today, PKR’s strategic director Rafizi Ramli ( left ) said it was peculiar that the BN - in achieving only 22 percent in 2010 - wants to take credit for what he said was actually a failure to meet the 30 percent target the New Economic Policy had targeted for 1990.

“But I guess for them, beggars can’t be choosers,” said Rafizi.

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