The Bumiputera association says it will back BN if more cash was given to help Malay businesses grow.
KUALA LUMPUR: Malay industrialists today asked for more than RM25 million from the Barisan Nasional government to help spur growth and vowed to back the ruling coalition if their requests are met.
Bumiputera Manufacturers and Service Industry Association president Abdul Rahim Abu Bakar said more funds were needed to push the sector forward, adding that many of its more than 1,200 members were still struggling to grow with capital being a major hurdle.
“It is not that we are taking advantage with the general election around the corner,” he said at the association’s 21st annual general meet here.
Also present was Deputy Prime Minister Muhyiddin Yassin
“But we would like to take this opportunity. If we don’t do it now, then, when can we… you have our votes. Who else will support you [the government] if not the Malays?”
As much as RM20 million is required as loans to “patch up” the Malay industries while RM5 million is needed to finance the sector’s overseas plans, said Abdul Rahim, a figure noted for adopting a “direct approach” when it comes to asking for funds.
He asked the government to consider disbursing more government contracts to help feed Bumiputera businesses.
Abdul Rahman’s demand is characteristic of the heavily criticised “patronage” culture among Malay businesses which Prime Minister Najib Tun Razak himself had sought to end.
Najib had conceded that the government’s race-based protectionist approach had not produced more capable Malay businessmen.
Muhyiddin also said in his speech delivered shortly after Abdul Rahman’s that the Malays can no longer depend on government help, adding that they must overcome their weaknesses to be competitive.
Stiff opposition
Najib’s attempts to open up the economy, however, ran into stiff opposition from conservatives in Umno – the major benefactors of the current politically-driven business culture – forcing him to delay plans for liberalisation.
Fear of a potential backlash from the Malays have forced Najib to backtrack on reforms and support pro-Bumiputera policies aimed at containing the growing disquiet.
The Najib government has allocated a hefty RM5 billion to be disbursed through various newly set-up agencies to help Malay businesses, while millions more were recently given to shore up support as polls loom.
Analysts said the government may put off the much-needed reforms for the time being, but further delays will affect Malaysia’s already lagging growth.
Many observers feel that’s why Najib must consolidate his position with a stronger mandate in the upcoming polls.
BN lost its customary two-thirds parliamentary majority and five states in the 2008 national polls, its worst performance in four decades.
Price hikes and internal split in Umno were said to be the major factors behind its record losses.
KUALA LUMPUR: Malay industrialists today asked for more than RM25 million from the Barisan Nasional government to help spur growth and vowed to back the ruling coalition if their requests are met.
Bumiputera Manufacturers and Service Industry Association president Abdul Rahim Abu Bakar said more funds were needed to push the sector forward, adding that many of its more than 1,200 members were still struggling to grow with capital being a major hurdle.
“It is not that we are taking advantage with the general election around the corner,” he said at the association’s 21st annual general meet here.
Also present was Deputy Prime Minister Muhyiddin Yassin
“But we would like to take this opportunity. If we don’t do it now, then, when can we… you have our votes. Who else will support you [the government] if not the Malays?”
As much as RM20 million is required as loans to “patch up” the Malay industries while RM5 million is needed to finance the sector’s overseas plans, said Abdul Rahim, a figure noted for adopting a “direct approach” when it comes to asking for funds.
He asked the government to consider disbursing more government contracts to help feed Bumiputera businesses.
Abdul Rahman’s demand is characteristic of the heavily criticised “patronage” culture among Malay businesses which Prime Minister Najib Tun Razak himself had sought to end.
Najib had conceded that the government’s race-based protectionist approach had not produced more capable Malay businessmen.
Muhyiddin also said in his speech delivered shortly after Abdul Rahman’s that the Malays can no longer depend on government help, adding that they must overcome their weaknesses to be competitive.
Stiff opposition
Najib’s attempts to open up the economy, however, ran into stiff opposition from conservatives in Umno – the major benefactors of the current politically-driven business culture – forcing him to delay plans for liberalisation.
Fear of a potential backlash from the Malays have forced Najib to backtrack on reforms and support pro-Bumiputera policies aimed at containing the growing disquiet.
The Najib government has allocated a hefty RM5 billion to be disbursed through various newly set-up agencies to help Malay businesses, while millions more were recently given to shore up support as polls loom.
Analysts said the government may put off the much-needed reforms for the time being, but further delays will affect Malaysia’s already lagging growth.
Many observers feel that’s why Najib must consolidate his position with a stronger mandate in the upcoming polls.
BN lost its customary two-thirds parliamentary majority and five states in the 2008 national polls, its worst performance in four decades.
Price hikes and internal split in Umno were said to be the major factors behind its record losses.
No comments:
Post a Comment