Bintulu MP: Quotas for Bumi equity counterproductive, won’t help community
KUALA LUMPUR, Nov 2 — Bintulu MP Datuk Seri Tiong King Sing told the government not to excessively assist Bumiputera businessmen with special quotas and privileges, but to teach them how to sustain themselves instead.
He said policies to compel businesses to reserve specific equity portions for Bumiputera would be counterproductive if the government were genuine about helping the community scale the economic value chain. “Help them face the global market instead of fighting the local market. That is meaningless,” Tiong said in the Dewan Rakyat today while debating Budget 2022.
A 51 per cent Bumiputera requirement was required for licences registered after 1990 — the year the Bumiputera equity policy was first implemented.
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