Plan To Consolidate Bumiputra Funds A Step Backward Bersatu Youth Claims

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Bersatu Youth has lambasted Prime Minister Anwar Ibrahim’s proposal to merge government agencies tasked with handling bumiputera investments.
Its information chief Mohd Ashraf Mustaqim Badrul Munir accused Anwar of pursuing an “equality agenda” that would set back efforts to develop the bumiputera economy.
He said the plan should make people question Umno’s role in the government.
“Malays should rise up and ask what is the goal of this agenda, because the consequences of this restructuring in the name of ‘institutional reform’ will be borne by the Malays themselves.
“This includes resource management that is expected to become inefficient, and the possibility of shrinking or limited funds.
“It clearly shows how Anwar and his liberal economic policies do not care about the fate and economic advancement of the Malays at all,” he said in a statement today.
Prime Minister Anwar IbrahimIn his Budget 2023 speech today, Anwar proposed to consolidate government agencies and statutory bodies that have overlapping or similar functions to make them more efficient in fulfilling their mandate.
He gave examples of agencies tasked with managing bumiputera investments, and agencies overseeing start-up companies and innovation.
“The government proposes to restructure institutions that strengthen bumiputera investment holdings by merging Yayasan Pelaburan Bumiputra, Yayasan Amanah Hartanah Bumiputera and Yayasan Ekuiti Nasional in the near term, to make bumiputra investment foundations a giant in a regional corporate world,” he said.
However, Ashraf (above) said this is a regressive move because each agency has clear differences in function from one another.
‘RM8.3bil loan waiver already done’
Meanwhile, Ashraf also took aim at Minister in Prime Minister’s Department (Law and Institutional Reform) Azalina Othman Said parliamentary reply yesterday that Felda is unable to continue the RM8.3 billion loan waiver that was announced by then prime minister Muhyiddin Yassin in 2021.
He said this adds to the people’s economic woes by putting Felda settlers back in debt, while the government still have no plan for alleviating their burden other than quick fixes like the unsustainable Menu Rahmah programme.
Felda chairperson Idris JusohHowever, Felda later issued a clarification that Muhyiddin’s initiative was already completed in 2021, involving a waiver of RM8.3 billion out of the RM12.1 billion debt.
“The decision was never cancelled by any government including the unity government and all settlers who signed the debt waiver agreement are already enjoying the benefits of much lower and affordable loan repayments,” said Felda chairperson Idris Jusoh.
However, Felda is unable to offer a second round of debt waivers, since the 2021 move has adversely affected its cash flow.
The repayment of outstanding debt as stipulated in the debt waiver agreement is needed to ensure Felda’s sustainability and enable it to look after setters’ welfare, Idris said. - Mkini

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