The New Economic Policy was billed on 1971 by Tun Abdul Razak with its primary objective was to eradicate poverty among the people regardless of race. But predominantly, the policy was actually an affirmative action by then government to boost Malay’s share in the economy by making most of its agenda benefit the Malay community the most. Since independence in 1957, the nation had a lop-sided pattern of wealth distribution seeing the Chinese had the biggest portion of the pie, when comparing with the other two majors ethnic in Malaysia. In 1970, Malaysian household income was broken down into RM276 for the Malays, RM478 for Indians and staggering RM632 for the Chinese. This had become one of the contributing factors for the racial riots occured in 1969 and henceforth, the bill come onto surface as one of the remedies to rectify the imbalance.
The bill specifically aimed to tackle the Malay’s share in the economy with the agenda primarily aimed to improve the level of income of the bumiputera with preference of education and universities admissions, civil service jobs being allocated for the said community. Almost 85% of the civil servants today are Malays and 70% of university placements being reserved for Malays. Hence, that is probably why we see Chinese mostly couldn’t get a spot in local universities and was forced to go abroad instead to further their studies. Along the implementation of the policy since it was first launched in 1970, undoubtedly, according to the numbers and statistics, it does managed to achieve its primary objective. Bumiputera’s share in business increased from 2.4% in 1983 to 18.7% in 1990.
Nathless, few after effects came into light which resulted another economic nodus. The emergence of political element being a significant rules in the game of business relations had become increasingly severe seeing strong ties between business owners and political parties as a powerful competitive advantage in running the business.
There are groups of supporters of NEP who believes these policy had significantly helped majority Malays in levelling up the living conditions of mass Malays via instruments such as education, business opportunities and even the FELDA initiatives. It has been said should these affirmative actions has not come into place, Malays will not be able to get up to speed with the others economically and academically despite this affirmative action leads to the birth of subsidy mentality. Regardless, author thinks it is about time for these affirmative action to be put to halt so that the we are all on a level playing grounds.
merely my two cents.
Nathless, few after effects came into light which resulted another economic nodus. The emergence of political element being a significant rules in the game of business relations had become increasingly severe seeing strong ties between business owners and political parties as a powerful competitive advantage in running the business.
There are groups of supporters of NEP who believes these policy had significantly helped majority Malays in levelling up the living conditions of mass Malays via instruments such as education, business opportunities and even the FELDA initiatives. It has been said should these affirmative actions has not come into place, Malays will not be able to get up to speed with the others economically and academically despite this affirmative action leads to the birth of subsidy mentality. Regardless, author thinks it is about time for these affirmative action to be put to halt so that the we are all on a level playing grounds.
merely my two cents.
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