PENANG, July 17 — DAP secretary-general Lim Guan Eng has mocked Tan Sri Muhyiddin Yassin’s contention on Umno’s struggle, saying the Malay party should go after those who stole RM52 billion in equity dished out under the New Economic Policy (NEP).
The deputy prime minister had said yesterday that Umno’s struggle is not over until the 30 per cent Bumiputera equity target is achieved, noting that the NEP’s spirit must continue as Bumiputera equity only stood at 18 per cent in 1990.
“Muhyiddin should tell Umno to go after the thieves that stole RM52 billion out of the RM54 billion in equity given out under the NEP. Then they can meet the target.
“He should ask himself this question, ‘does Umno want to catch the thief or be the thief?’” the Penang chief minister told The Malaysian Insider today.
Lim said Muhyiddin’s arguments were flawed as the Umno deputy president was trotting out old figures minus the context of the government’s admission that most of the Bumiputera equity had been sold off.
Muhyiddin said in Kuala Terengganu yesterday that as the Malays’ foray in the economy is still unsatisfactory, Prime Minister Datuk Seri Najib Razak has stated that as long as the 30 per cent target is not met, national leaders will continue with the struggle.
He said, however, the policy would be different from before, when non-Bumiputera companies were compelled to have a 30 per cent Bumiputera stake and observe other restrictions.
The Umno deputy president said as the world economy was becoming more competitive, the government adopted a more open and liberal policy to help the Malays based on meritocracy, potential and capabilities.
He said poverty would be eradicated regardless of race, with the subject being constantly raised in the Cabinet and administration.
In agriculture, although dominated by Malays especially in farming, livestock breeding and fishing, he said their income was meagre and they were categorised as either middle income or poor.
He said this was because the technology used was outdated, resulting in low productivity with poor returns.
