YOURSAY ‘Otherwise the elite will become target of attacks, instead of non-bumis.’

                                                           

Same old, same old from EPU on bumi equity

Gerard Lourdesamy: The government should read the book ‘ The Colour of Inequality ’ and then make substantial changes to its pro-bumiputera and affirmative action programmes.

 

The core issue now is intra-ethnic disparity and not inter-ethnic disparity where the NEP (New Economic Policy) has had a great degree of success.

 

Affirmative action should be purely needs based and extended to the poor and underprivileged of all races. All forms of discrimination in the public and private sector ought to be eliminated through equal opportunities legislation.

 

Fair and equitable access to education must be a priority. Enhancing private savings and asset acquisition and retention should be another priority.

 

Cronyism and the expectant trickle-down economics which is prevalent now is not helping the bumiputera community progress in a fair and just manner with the other races.

 

Odin: The NEP was formulated and instituted in or around 1970. That was 44 very long years ago.

 

If the Malays as a whole are still not in possession of 30 percent of the economic pie, then Umno and Umno Baru have failed miserably in realising that target. It is that simple.

 

Those who are awake know why they have failed. But Umno Baru, in charge of Malaysia for most of that period of 44 very long years, now puts the blame on the Chinese mainly for its delinquency of epic proportions.

 

Whatever the EPU (Economic Planning Unit) trumpets is nothing more than an attempt to cover up that delinquency. We, who are awake, know that.

 

Ericlcc: This is one aspect of the economy that they will forever be proud that there is no progress.

 

In fact, they are so proud that they would declare loudly that the government has failed miserably in achieving the 30 percent bumi equity target, even after more than four decades.

 

Spinnot: If from Day 1 (i.e. when NEP was launched), listed companies have created a special category of equity shares which could only be bought and sold between bumiputeras, they most probably would have achieved the 30 percent quota long ago. 

 

Mr KJ John: Thanks Lim Teck Ghee for adding your voice to this unresolved issue.

 

Now that more moderate Malays like former DPM Musa Hitam are adding their voice to this issue you first highlighted; it cannot be ignored by EPU anymore.

 

But, my only question is whether EPU is still relevant, especially when we have taken a project approach to national development.

 

Kamikasi: Should the Malaysian government subscribe to integrity and honesty on the ways it conducts its affair, Malaysians irrespective of race and religion would definitely find no reason not to be patriotic to the country.

 

Sadly the powers-that-be deliberately manipulates data to cause tension among the citizens, even though everyone knows that the bumi equity quota has been achieved long time ago.

 

Nations that live on lies, and more lies, will definitely fail eventually. I think Islam taught that too.   

 

Abasir: Going by all the evidence we have, the grandiosely titled conspiracy known as the ‘Malay Agenda’ is really to lie to, distort statistics and mislead the taxpayers of the country for a nefarious end - the survival of Umno as a conduit for ‘grand theft’.

 

Rightan: How to admit the achievement of 30 percent target or beyond while the vast majority of bumiputera are still poor? Otherwise the elite will become the target of attack, instead of non-bumis.

 

Siang Malam: I am a Chinese Malaysian and I am okay if the Malays get their fair share in assistance, but are they? I think only the ‘segelintir’ (only a few) who are ruling elites get the chunk while the rest of the Malays suffer.

 

Fair Play: As a member of the right-thinking rakyat, I really don't care two hoots what EPU believe and want us to believe by reporting what they want to report.

 

The 'exodus' of foreign investors (government bonds and equities in Bursa Malaysia) will continue to weaken the ringgit and force shares of listed entities to drop further. BNM (Bank Negara Malaysia) would have a very tough job defending the ringgit from sliding further.

 

The powers-that-be must come to grip with the fact that it's no longer about the 'survival of the Malay economy' but the survival of the nation's economy and the grave risk pose by the high household debt to GDP in expanding the economic cake.

 

With the nation likely to join the TPPA (Trans Pacific Partnership Agreement), the 'Malay economy' will face another real challenge. As the saying goes - when it rains, it pours.

 

Appum: Lim, as we all know "statistics can be cooked" to suit the cook's taste. The NEP was supposed to be for 20 years, now it's extended perpetually.

 

The 30 percent is achieved (objectively calculated) but now they want it to be extended up to 70 percent at the minimum, although only not overtly declared.

 

Yap CS: The goal post is constantly shifted to suit Umno’s benefit. They will never be satisfied for greed is insatiable.

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