The benefits and setbacks of economic

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The benefits and setbacks of economic

The Gini index declined from Intra-ethnic income differences also increased markedly, especially among Malays. Between andthe Bumiputra share of accountants doubled from 7 to 14 per cent, engineers from 7 to 35 per cent, doctors from 4 per cent to 28 per cent, and architects from 4 to 24 per cent.

The Bumiputra portion of the share market — a figure frequently cited as "a measurement of overall community wealth", despite claims that it was misleading — increased from 2 to 20 per cent over the same period according to one academic's measurements. The Chinese share also increased from 37 to 46 per cent, at the expense of foreign participation.

Official Kuala Lumpur Stock Exchange figures from were even more optimistic, indicating Bumiputra share ownership stood at Furthermore, the Chinese community generally moved away from the public sector and set up businesses in the private sector, where the impact of the NEP was less pronounced.

This figure, however, does not reflect that certain segments of the non-bumiputra population live in dire poverty. The Malaysian Indian and Orang Asli in particular form the lowest strata of the population in terms of economic ownership.

The Orang Asli of Peninsular Malaysia are not considered Bumiputra under the Federal Constitution despite their indigenous status see Bumiputra for further information. Reimplementation[ edit ] Officially the term of the NEP ended in However, much of it remained in effect through other governmental policies; the New Straits Times reported that this was because as of"the government believes the aim of having 30 per cent Bumiputera equity has yet to be achieved".

Several policies of the NEP which give economic advantage to the rich Bumiputras, such as Bumiputra quotas in ownership of public company stock, and housing being sold exclusively to Bumiputras, are viewed as discriminatory.

Many of the NEP policies strive for equality of results rather than equality of opportunity, with NEP proponents justifying the concentration on results rather than opportunity as by pointing out that measuring equality of opportunity is difficult or impossible.

Still others suggest this target may not work as training and certification does not necessarily guarantee equality of opportunity. Some became rich overnight while others became despicable Ali Babas and the country suffered economic setbacks".

Bumiputras of high and low economic standing are entitled to the same benefits.

Some have alleged that because of this imbalance, some Malays remain economically marginalised. The manufacturing sector is exempted from the Foreign Investment Committee FIC Guidelines, the 30 per cent Bumiputera equity and restrictions in market entry have been removed for all sub-sectors.

Bumiputras were accorded quotas for admission to public universities until These quotas were fixed, however, and in later years meant that the Bumiputra were allotted a significantly lower percentage of places originally intended, as the population figures used to calculate the quotas were based on s numbers.

Despite this, the quotas were still considered by many non-Bumiputra as unfairly rewarding the Bumiputra.With member countries, staff from more than countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

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The benefits and setbacks of economic

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This trend should be maintained through continuous efforts at improving the performance of state-owned enterprises, strengthening the business environment, and curbing corruption MADAGASCAR, November 23 The seventh edition of the Madagascar Economic Update, Coping with shocks, highlights.

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