Govt to help empower Bumiputeras, says Muhyiddin

Prime Minister Muhyiddin Yassin says the poverty rate of Bumiputeras is higher than that of the Chinese and Indians.

KUALA LUMPUR: The government has established the Bumiputera Prosperity Council which will act as the highest platform to strengthen the community’s socio-economic development, Prime Minister Muhyiddin Yassin said at the Dewan Rakyat today.

“I myself will chair this council that will drive and accelerate the empowerment of the Bumiputera economy,” he said, adding that Teraju, the government’s Bumiputera empowerment unit, would be the main coordination agency for this development.

Muhyiddin said the government was committed to the Bumiputera agenda and that despite improvements in the community’s economy, their socio-economic standing needed to be further boosted.

He said the community lagged behind others which was evident in the higher poverty rate (7.2%) compared to the Chinese (1.4%) and Indians (4.8%).

He added that Bumiputera equity in the corporate sector stood at 16.2% in 2015 compared to non-Bumiputeras (30.7%) and foreign holdings (45.3%), while unemployment was also slightly higher among Bumiputeras.

Muhyiddin also said the government would promote and nurture Bumiputeras to become entrepreneurs, while education and human capital development efforts would be ramped up, particularly among B40 and M40 families.

“The provision of scholarships, development programmes and guidance for Bumiputera human capital will be expanded to all levels.

“Other measures, including a Carve Out and Compete policy, key performance index for Bumiputeras for every ministry, department, agency and government-linked company as well as the acquisition of equity and strategic assets will be strengthened,” he said.