Govt mulls Economic Sabotage Act

> Law aims to curb selling of contracts, APs by bumis for quick gain

KUALA LUMPUR: The government is discussing with various parties on the proposal to enact the Economic Sabotage Act to curb the selling of contracts and import permits (AP), the Dewan Negara was told yesterday.

Economic Affairs Deputy Minister Mohd Radzi Md Jidin (pix) said the formulation of the act was among the resolutions presented during the Congress on the Future of Bumiputra and the Nation 2018 on Saturday.

“The proposed formulation of the act is important to curb the action of certain parties reaping quick profits through the sale of contracts and import permits,” he said during the oral question-and-answer session.

He was replying to Senator Datuk Bashir Alias on the programmes to be implemented by the government to improve the living standard of Malays and bumiputras.

Mohd Radzi said the government is at present preparing a new strategy, initiative and direction for the 11th Malaysia Plan through the provision of a mid-term review of the plan.

“The mid-term review document will be tabled in October by taking into account the current needs of the people based on inclusive principles.”

He added the bumiputra equity participation would be given priority in addressing imbalance in employment, asset ownership such as property and corporate equity as well as participation in high value added activities.

Prime Minister Tun Dr Mahathir Mohamad earlier this week said the government will cancel bumiputra contracts and approved permits if they sell these to others.

This was to ensure opportunities offered to bumiputras are properly utilised. Mahathir said this would be among the efforts the government would implement to tighten the requirements on opportunities given to bumiputras.

He said the government was not out to persecute the race but help them succeed.

Many business opportunities had been given to them under the New Economic Policy, introduced in 1971.