Wednesday, July 2, 2008

MIC: Check unit trust scheme for Indians

THE Government should set up a committee to monitor the progress of the proposed unit trust scheme for Indians aimed at increasing their corporate equity ownership by 2010, Malaysia Nanban reported.

MIC information chief Datuk M. Saravanan said the Government should also ensure fair Indian representation in the committee.

The scheme aims to increase the corporate equity ownership from the current 1.1% to 1.5% by 2010.

He said the scheme must receive equal distribution of unit trusts for the Indian community and nobody should be left out.

Saravanan, who is also Deputy Federal Territories Minister, also requested the Government to provide a one-off grant to Tamil schools to remedy whatever shortfalls they had.

He said that the grant could be used to improve the infrastructure in the schools, as there are many schools in terrible condition.

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