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Abdullah should scrap the
inequitable and unacceptable Maybank extension of NEP by requiring law firms
on its panel to have at least 50 per cent bumiputra partnership
(Kuala Lumpur, Sunday) : The Prime Minister, Datuk Seri Abdullah Ahmad Badawi should scrap the inequitable and unacceptable Maybank extension of the New Economic Policy (NEP) by requiring law firms on its panel to have at least 50 per cent bumiputra partnership.
Maybank has imposed the rule that with effect from 1-7-2007, one of the criteria for legal firms to be on its panel is that 50% of the equity of the partnership of the legal firm must be held by Bumiputras. For legal firms which are already on the Maybank panel, they have a year to comply with the new ruling.
Maybank, a government-linked company, has justified the new ruling on the ground that Malaysia was working towards improving the quality of service industries including the legal profession to face the challenges of globalization.
But this is a most unconvincing ground for the new Maybank ruling has nothing to do with the upgrading of the quality of service industries, whether legal profession or other fields. On the contrary, the opposite may be the case.
Furthermore, it will create new national divisions by undermining the nation-building process especially at a time when the country is celebrating the 50th Merdeka anniversary when Malaysians have discovered that the country had not made much progress in promoting national integration in the past five decades.
After the Ijok by-election, Abdullah asked MCA and Gerakan to explain why there was a swing of Chinese voters to the Opposition. Let MCA and Gerakan Ministers tell the Prime Minister that it is unfair and inequitable policies and measures like the Maybank ruling for 50% bumiputra partnership for legal firms on its panel which have aggravated disaffection and alienation in the country.
DAP MP for Bandar Kuching, Chong Chieng Jen, will move an emergency motion in Parliament tomorrow to protest and end the unacceptable Maybank extension of NEP by requiring its law firms to have at least 50 per cent bumiputra partnership.
Let all Barisan Nasional MPs stand up to support the DAP motion in Parliament opposing the unfair and unacceptable Maybank extension of the NEP.