Dzulkefly Ahmad (PH-Kuala Selangor) said based on the feedback from Malay businessmen, many are against the idea.

“I received WhatsApp messages saying it is the ‘worst policy’. They tell me that if killing the Bumi economy is the intention, ‘this is a sure way’,” the former health minister said when debating the 12th Malaysia Plan in the Dewan Rakyat today.

Dzulkefly also said some described the policy as “suicidal”.

Yesterday, in tabling the 12MP, Prime Minister Ismail Sabri Yaakob said to ensure sustainable equity holdings by Bumiputeras, an equity safety net would be introduced to guarantee that the sale of shares or Bumiputera firms would only be sold to Bumiputera companies, consortiums or individuals.

Ismail said this after revealing that the government’s target to raise Bumiputera equity ownership to 30% had yet to be achieved.

Meanwhile, opposition leader Anwar Ibrahim said that while he does not oppose efforts to help Bumiputeras in various fields, such affirmative action policies was a “1971 approach” that in some instances only guaranteed social mobility.

When it came to Bumiputera equities in companies, history has shown that it only benefited cronies, he said.

“This cannot be denied. We need a new approach, we cannot follow the old ways.”

Anwar said the current approach saw those who had neither the qualifications or ability given the projects due to their “contacts or political standing”.

“And we are also denying the rights of others.”

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