The New Economic Policy (NEP) and other pro-Bumiputera privileges have largely benefited political cronies rather than the wider Bumiputera community, says economist Barjoyai Bardai, who urged a shift from dependency to competitiveness and self-reliance.
He told FMT that most Bumiputeras, especially those in the B40 group, regard these privileges as “practically non-existent”.
Barjoyai said while some still hope that a future government might genuinely uplift small and micro Bumiputera businesses, many now see the NEP and similar policies as “dirty words” that undermine their credibility as entrepreneurs.
According to him, pro-Bumiputera policies had historically generated economic gains for political elites, but the majority of Bumiputeras have been left behind.
“Most (Bumiputeras) have never enjoyed any real benefit from…