Look beyond 30% ownership rule, Putrajaya told

[superadmin]

PETALING JAYA: The government has been urged to go beyond its focus on raising Bumiputera equity ownership, and look at improving Bumiputera participation in the economy as a whole.

Equity ownership alone is not a true measure of economic success, said economist Barjoyai Bardai of Universiti Tun Abdul Razak.

He said: “Do not be carried away with the 30% target or on the numbers but focus on a bigger objective, which is the participation of all Bumiputeras in the economic sectors.”

He also believed it would be hard for Malaysia to enjoy significant economic growth if it remained with the same economic plan. “The time has come for the government to come up with a new model plan based on the current paradigm.”

He said only the first three of Malaysia’s five-year plans could be considered successful, those for the period between 1966 and 1980.

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