Decision On Abolition Of 30 Pct IPS Equity Requirement Under Relevant Ministry’s Purview - Akmal Nasrullah

SUBANG JAYA, Sept 26 (Bernama) -- The decision on the abolition of the 30 per cent Bumiputera equity requirement for private educational institutions (IPS) falls under the purview of the relevant ministry in accordance with its jurisdiction, said Economy Minister Akmal Nasrullah Mohd Nasir.

He said the Ministry of Economy is focusing on the Bumiputera Economic Transformation Plan 2035 (Putera35) to strengthen Bumiputera capabilities and ensure inclusive economic growth.

“Regulation and implementation of the requirement is under the respective ministry, and any decision is bound by the Cabinet decision made in 2009. Therefore, the Bumiputera empowerment agenda should be viewed positively to further enhance their capacity to grow and participate in the economy,” he told reporters after attending the closing ceremony of the REHDA Institute Youth Initiative (RIYI) 2026 here today.

On Sept 21, the Ministry of Education (MOE) announced that at least 30 per cent Bumiputera equity ownership would no longer be a requirement for private limited companies operating private educational institutions (IPS) under the ministry.

The MOE said the change was made to meet the current needs of the education sector and ensure participation in education remained open to all parties seeking to contribute to the development of the country's education sector.

In a separate development, Akmal Nasrullah said structural economic reforms were among the key measures to address stagnant wages and improve workers’ income levels in Malaysia.

“When we talk about stagnant wages and how we can further improve wage levels in this country, it is certainly a structural issue that has long plagued the country. Addressing this structural problem includes raising the ceiling of the country’s economy,” he said, adding that the government is also focused on raising the incomes of low-wage workers, including through the minimum wage mechanism.

He said the minimum wage mechanism has been in place for more than a decade and resulted in an increase in minimum wages.  “The next challenge is how to prevent wage compression, particularly for semi-skilled workers and those in the middle-income wage group. This is to ensure they are not squeezed as employers, particularly micro, small and medium enterprises, bear the commitment of higher minimum wages,” he added.

-- BERNAMA