NEP sees bulk of bumi equity in public sector
PARLIAMENT Bumiputera equity in economy has increased ten-fold to 23.5 percent since the introduction of the New Economic Policy (NEP) in 1970, but the bulk of this is in the public sector, the government said.
PARLIAMENT Bumiputera equity in economy has increased ten-fold to 23.5 percent since the introduction of the New Economic Policy (NEP) in 1970, but the bulk of this is in the public sector, the government said.
As such, Minister in the Prime Minister's Department Abdul Wahid Omar said, the private sector will need to chip in further if the target of 30 percent bumiputera equity is to be met.
"The public sector only makes up 42 percent of the economy, and this includes government-linked companies like Petronas. It will be hard to meet the 30 percent target if we only rely on the public sector.
"This is why I am urging the private sector to play their role to ensure the success of this policy," he said.
Wahid was also asked a supplementary question by Azmin Ali (PKR-Gombak) on an alleged RM400 million losses by government agency Ekuinas through a real estate investment firm in Singapore.
Wahid said this allegation is unfounded, as the investment programme, outsourced to a private equity firm, has not made any investments on behalf of Ekuinas.
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