Miti in the dark over move to scrap Bumi equity rule for tuition centres
Investment, trade and industry ministry says matters relating to Bumiputera equity ownership fall under the purview of the Economic Planning Unit.
Putrajaya, September 22 — The Malaysian Education Ministry has lifted the 30% Bumiputera equity ownership requirement for private limited companies operating private educational institutions (IPS), a policy that was previously in place. This decision was reached after discussions between the Ministry of Education and the Ministry of Investment, Trade, and Industry.
According to a statement from the Education Ministry, the change was made to address the current needs of the education sector and ensure that all parties have the opportunity to contribute to the nation's educational development. The ministry acknowledged concerns raised about the 30% Bumiputera equity requirement for certain private limited company-owned IPS, as stated in the 2006 IPS Policy Statement Book.
The ministry expressed gratitude for the contributions of all private educational institution operators and affirmed its commitment to working with all stakeholders to improve the education of Malaysian children.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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