Opposition: Bumi push helps rich cronies, not poor Malays

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PARLIAMENT | Opposition leader Anwar Ibrahim and independent MP Syed Saddiq Syed Abdul Rahman have disputed whether bumiputera empowerment initiatives in the 12th Malaysian Plan (12MP) will help those in need.They contended that such plans would benefit political masters and “cronies” instead of the poor.Debating the 12MP today, Anwar (PKR - Port Dickson) argued that the bumiputera equity ownership rule would benefit the rich and politically connected.He pointed to how similar initiatives in the past had proven his point.“If we look at what happened in history, (bumiputera equity policies) greatly benefitted a few family-run companies and cronies.“This is undisputed,” he said.For one, Anwar pointed out how nominee shareholding had been abused by the politically connected to surreptitiously own shares.“Nominee (shareholding) is how big and very rich political leaders shield the…