Ipoh (Malaysia), May 26 : Malaysian Indian Congress (MIC) president S. Samy Vellu has criticised people who have objected or sent feelers to the government not to disburse the annual allocation of RM300 million sought by the party to improve Indian-owned equity.

Expressing his anger over the move, Vellu said that the money was not being allocated to the MIC per say, but for the betterment of the Indian community.

"The allocation should be disbursed by ministries, agencies, departments or banks appointed by the government. The MIC will not be getting the money. It will go straight to deserving Indians," the New Strait Times quoted Vellu, as saying.

He had said that most of the allocation would be used to help poor Indians, adding that a proposal had been submitted to Deputy Prime Minister Najib Razak, Second Finance Minister Nor Mohamed Yakcop and Minister in the Prime Minister's Department in-charge-of the Economic Planning Unit Senator Amirsham Abdul Aziz.

Speaking before opening the 62nd Perak MIC convention, Samy Vellu said the community only had one per cent equity holdings and MIC wanted this increased to 2.9 per cent. (ANI)