For all intents and purposes, it appears to me that the NEM is old wine in new wine skin. (incidentally the Bible says that such a situation will cause the wine skin to be split and the wine to be spilt!)
The government claims that after all these years of the NEP, a large portion of the nation's wealth is still in the hands of the non-bumiputera community.
If I recall correctly, it was not too long ago that there was a big furore when Asli’s Dr Lim Teck Ghee) challenged these figures which seemed to suggest that the vast majority of the bumiputera community were doomed to a fate of eternal poverty.
At that time there was much debate about the methodology and criteria used to measure the ownership of wealth. Lim, in true academic fashion stated his methodology and criteria.
The government, not surprisingly did not agree with his method and instead claimed that it had its own way of measuring wealth ownership. Fair enough. We may not all agree with Lim, but what is this other esoteric method used by the government?
My recollection is that at that time, then deputy prime minister Najib Abdul Razak declared that the government, would, in due time, explain its basis for asserting that the bumiputera community owned less that 30% of the nation’s wealth.
To my knowledge this has not yet been done.
I would suggest that as we enter the era of the NEM, it is important that we state clearly and in unequivocal terms, how we are going to measure ownership of wealth.
Only then can we measure and monitor the success (or lack of it) of the NEM. Otherwise, after another 50 years, we will still be arguing whether or not the objectives of the NEM have been achieved.
Mk
13/04/10
The government claims that after all these years of the NEP, a large portion of the nation's wealth is still in the hands of the non-bumiputera community.
If I recall correctly, it was not too long ago that there was a big furore when Asli’s Dr Lim Teck Ghee) challenged these figures which seemed to suggest that the vast majority of the bumiputera community were doomed to a fate of eternal poverty.
At that time there was much debate about the methodology and criteria used to measure the ownership of wealth. Lim, in true academic fashion stated his methodology and criteria.
The government, not surprisingly did not agree with his method and instead claimed that it had its own way of measuring wealth ownership. Fair enough. We may not all agree with Lim, but what is this other esoteric method used by the government?
My recollection is that at that time, then deputy prime minister Najib Abdul Razak declared that the government, would, in due time, explain its basis for asserting that the bumiputera community owned less that 30% of the nation’s wealth.
To my knowledge this has not yet been done.
I would suggest that as we enter the era of the NEM, it is important that we state clearly and in unequivocal terms, how we are going to measure ownership of wealth.
Only then can we measure and monitor the success (or lack of it) of the NEM. Otherwise, after another 50 years, we will still be arguing whether or not the objectives of the NEM have been achieved.
Mk
13/04/10
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