Summary
- MITI says it had no knowledge of KPM’s decision.
- KPM earlier said the move followed discussions with MITI.
- MITI says Bumiputera equity policy falls under the Economy Ministry.
KUALA LUMPUR, September 23 — The Investment, Trade and Industry Ministry said it had no knowledge of the Education Ministry’s decision to remove the 30% Bumiputera equity requirement.
For certain private education institutions. The clarification came after KPM said Sunday that the change followed discussions between the two ministries.
MITI said matters involving Bumiputera equity ownership policy fall under the jurisdiction of the Economy Ministry’s Economic Planning Unit.
The ministry said its clarification was intended to correct the public understanding of its role and ensure information surrounding the policy change was accurate and clear.
