Such discounts are needed to help this group, but the discounts should not be given to those in the middle or higher-income bracket, Zahid told a press conference after attending the Bumiputera economic congress here.

Zahid, who is also the rural and regional development minister, was responding to a proposal by Bursa Malaysia chairman Abdul Wahid Omar to abolish discounts for Bumiputeras buying luxury homes.

Wahid was reported as saying that housing discounts were unsuitable for Bumiputeras who want to buy a RM2 million bungalow.

He suggested that the additional revenue from ending these discounts be channelled to those in the low-income bracket to acquire houses.

Zahid said the 80 resolutions that were presented at the Bumiputera economic congress had covered various aspects related to the Bumiputera community without sidelining the other communities.

The resolutions would be revised by a secretariat before they are implemented. “These resolutions are important in terms of eradicating poverty and providing a fairer distribution of the economic pie.”

A permanent secretariat will be formed immediately to monitor the implementation of resolutions presented at the congress, he said. The secretariat will be placed under the Bumiputera Economic Council chaired by Prime Minister Anwar Ibrahim.

Zahid said that, as the chairman of the Performance Management and Delivery Unit (Pemandu), he is responsible for overseeing and executing what has been approved by the economic council.

The three-day economic congress was attended by 3,000 participants including representatives from the Malay, Kadazan, Dusun, Iban, and Dayak business chambers as well as representatives of the Orang Asli community.