KUALA LUMPUR, Aug 2 — Majlis Amanah Rakyat (Mara) should be corporatised instead of remaining a government agency, Datuk Mohd Ghazali Md Noor suggested today without commenting on how it should then be funded.
The Malay Chamber of Commerce Malaysia (DPMM) research and development foundation committee member claimed this would enhance the ability of the agency formed with the express purpose of enhancing Bumiputra entrepreneurship.
“It is not just matter of improving the efficiency or efficacy of Mara, but its impact in uplifting the Malay community.
“With a corporate structure, and the right corporate figure to lead the organisation, it would help the institution to keep with the current financial trend,” he said.
On how an independent and commercial Mara would be able to keep paying for programmes to uplift the Bumiputra community, he did not elaborate.
He also did not say why remaining a government agency would prevent Mara from gaining the expertise and tools he said was needed to help Malay businesses compete globally.
In Budget 2018, Mara was allocated RM2.5 billion or the most it has yet received from the government.
Ghazali also claimed that corporatisation would address the problems afflicting the agency.
“If Mara goes corporate then you can also start to do away with its three main problems which are corruption, cronyism and commission taking,’’ he said.
He also expressed disagreement for Mara to be dismantled or broken up, saying the agency’s different arms all worked towards the same purpose and were interdependent.
