The government must investigate why enormous funds being poured into helping bumiputeras over the past 20 years had achieved little success, said MCA vice-president Chua Jui Meng.

"In 1983, the figure of (bumiputera share of equity) was 18.7 percent. Why is it that in 2003 the figure remain at 18.7 percent? There must be an investigation," he said tonight during a talk show on TV3's business programme, The Exchange.

At last week's Umno general assembly, leaders from the key ruling party had spotlighted the lack of economic advancement among the bumiputeras and lamented that the equity share of Malay Malaysians had not improved much over the past two decades.

However, Chua appeared to express doubt over the percentage of equity currently being held by bumiputeras - said to be between 18 and 20 percent - and called for an independent committee comprising of all ethnic group to examine the matter.

Chua said that no one could deny that the government had allocated funds to help the bumiputeras to achieve the target of 30 percent of equity stake as stated in the New Economic Policy, which was later replaced by the National Development Policy in 1990.

"People want to know why the 'leakage' was so wanton and excessive to the level that the figure (of equity share) did not move even an inch in 20 years," he said when debating the controversial issue with another panelist, Umno Youth deputy chief Khairy Jamaluddin.

In response, Khairy agreed that weaknesses in government policies had contributed significantly to Malay Malaysians and other bumiputeras in not being able to achieve the target set by the NEP.

However, he said it was not fair to argue that the government had failed to achieve its objectives under the policy.

Khairy argued that the successes of the government policy could be seen in the vast improvement of infrastructures in the rural areas and the emergence of the Malay middle class.

New national agenda

He stressed that the revival of the NEP called by Umno Youth was not a backward policy.

"We did not say this is a new Malay agenda. It's a new national agenda. But fundamentally we want to make sure that there is a real monitoring of its implementation," he said.

Khairy said Umno Youth believed that the 9th Malaysian Plan, which set out the country's development plan for the next five years, should accommodate the Malay agenda.

However, Chua retorted that as this was a national agenda, the revival of the NEP should be discussed by all ethnic groups in Malaysia.

Chua and Khairy have crossed sword on the controversial issue over the past few days after Umno Youth called for a renewed government commitment to the NEP.

Chua, who is a two-term minister and currently vying for the post of MCA president, dismissed the call as 'retrogressive and a step backward'.

He also suggested that the move would arouse fear and insecurity among other communities and foreign investors.