TDM insists that the target of 30% Bumi equity in public listed companies must be maintained:
"He said it is not the right time to adjust the country’s overall economic policies because the target to help bumiputra Malays reach 30% ownership of the country’s wealth has not been reached."
Firstly, the fundamentals behind the objective to help Malaysia achieve 30% ownership is flawed. This is because the methodology and process to achieve the objective aims to GIVE the Bumis 30%, rather than implementing programs that will help the Bumis EARN this 30%. It even comes across as if public-listed companies are forced to give 30% equity to Bumis, or else...
Secondly, as the economy grows, and more companies are listed, this 30% will always be an illusive MOVING target. Which means it may never be achieved.
Thirdly and sadly, if TDM insists that 30% target still not achieved after so many measures imposed over so many years, then it is obviouus that the NEP is not effective. And continuing on this lost cause ad policy will simply burden both Rakyat and Govt. The sad truth implied by TDM here is that Bumis still cannot stand on their own two feet after so many years and so much assistance from the government. I, however, disagree, and believe that there are many very capable Bumis out there running some very successful companies and businesses.
What is needed is to put in programs that will teach the Bumis how to fish, rather than giving them fish.