KUALA LUMPUR: University Malaya (UM) graduates who earn more than RM10,000 are urged to contribute RM1,000 each to the university's endowment fund, says Datuk Seri Anwar Ibrahim.
The Prime Minister proposed that Cabinet members who are UM alumni should donate RM10,000 each to the fund.
He said that with collective contributions to the fund, the RM500mil target is achievable, which would then reduce the burden on the government.
However, he said that the proposal does not absolve the government of its responsibility to provide funding for the university.
"As you are aware, we inherited an economy that was not managed responsibly.
"The nation was also known more for its economic challenges... marked by weak governance and corruption, which led to the national debt of RM1.5 trillion.
"Given this, it is crucial that the management of the fund is more efficient, as the UM alumni are among the key contributors to the economy.
"We hope this initiative will strengthen the fund and lead to increased future allocations," he said during his speech at the 2024 UM alumni night here on Tuesday (Dec 17).
Gracing the event was Sultan of Perak Sultan Nazrin Shah, who is also Chancellor of UM.
Meanwhile, UM vice-chancellor Prof Datuk Seri Dr Noor Azuan Abu Osman said the endowment fund aims to raise RM1bil, with RM500mil expected to come from alumni, corporate partners and industry players, while the remaining amount is hoped to be matched by the government.
"To date, we have successfully raised RM220mil from internal and external sources.
“We humbly appeal for continuous support, particularly from the government, to join us in achieving this university agenda,” he said.
