Kuala Lumpur:The decision regarding the abolition of the 30 percent Bumiputera equity requirement for private educational institutions is under the jurisdiction of the relevant ministry, as stated by Economy Minister Akmal Nasrullah Mohd Nasir. According to BERNAMA News Agency, Akmal Nasrullah emphasized that the Ministry of Economy is concentrating on the Bumiputera Economic Transformation Plan 2035, known as Putera35, which aims to enhance Bumiputera capabilities and promote inclusive economic growth. He further explained that regulation and implementation of this requirement are governed by the respective ministry and adhere to a Cabinet decision made in 2009. Akmal Nasrullah highlighted that the agenda for Bumiputera empowerment should be positively perceived to enhance their economic growth and participation. On September 21, the Ministry of Education announced the removal of the 30 percent Bumiputera equity ownership requirement for private limited companies operating private educational institutions . This change addresses current educational sector needs and ensures open participation in educational development. In another development, Akmal Nasrullah discussed structural economic reforms as essential measures to tackle stagnant wages and improve income levels in Malaysia. He pointed out that addressing structural issues is crucial for economic advancement and emphasized the government's focus on increasing incomes for low-wage workers through mechanisms like the minimum wage. The minimum wage mechanism has been in place for over a decade, leading to wage increases. However, Akmal Nasrullah noted the challenge of preventing wage compression for semi-skilled and middle-income workers, especially as micro, small, and medium enterprises manage higher wage commitments.
