The 10th Malaysia Plan: Policy, Politics and the New Economic Model

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Panelists:  

    * Dr Awang Adek Hussin (Deputy Minister of Finance)
    * Sivarasa Rasiah  (MP-Subang)
    * Idris Jusoh  (Chairman, MARA; former MB, Terengganu)
    * Dr Lim Teck Ghee (Professorial fellow, UCSI University)

      Moderator: Prof. Chan Chee Khoon

Dr Lim Teck Ghee: “The 10th Plan prolongs the fiction of underachievement of the 30% bumiputera corporate equity target.  It is also being used to justify the continuation n of a quota system for bumiputeras in other sectors of the economy. The government measurement of bumiputera equity participation is erroneous and misleading. It is not reflective of actual Malay share and participation in the economy.

The social and economic costs of prolonging ethnic quotas have been enormous. To continue to perpetuate the life of this crude policy instrument will pull Malaysia and the Malays further down the competitive ladder. The political gains from ethnic quotas for one political party are outweighed by the negative impacts for all communities and the country as a whole.???