ONLY a small, elite group of cronies will be enriched by the newly announced requirement of 51% bumiputra equity in local freight forwarding companies, says Datuk Seri Anwar Ibrahim.

       The Opposition leader said history had shown that such policies benefit only a few people, and he questioned whether the poor bumiputra community would benefit from such a requirement.

       “It is undeniable that such policies only benefit a few families and cronies. What about the poor and unemployed, who consist mainly of Malays?

       “There must be a new approach. Don’t follow the old ways. All races must be given space,” he said during his speech on the 12th Malaysia Plan in Parliament.

       “The requirement of 51% bumiputra equity in local freight forwarding companies is flawed as it prioritises those with political influence,” said Anwar.

       Syed Saddiq Syed Abdul Rahman (Independent-Muar) said the new policy was unfair to the non-bumiputra in Malaysia.

       “Where is the fairness? It seemed as though we are prioritising foreigners more than our very own Malaysians simply because they are not born a Malay and Muslim,” he said, in reference to the fact the equity requirement does not apply to foreign-owned freight forwarding companies.