It’s ubiquitous attack on Deputy Prime Minister, DS Najib Tun Razak since announcing his stimulus budget grande. Relentless it came from all. Just last week, Najib said our economy growth would be 0.1%. It would have been better to be honest and say we’re heading into recession or zero growth than blaming his calculator.
I can only say that this scheme, spread over 2 years, is primed to take care of UMNOhood, its cronies & little for the common men/women (the rakyat). It pretty much retains the status quo. A Bailout Stimulus for UMNO & cronies, more like it.
Tan Sri Ramon Navaratnam quoted, “I would call it a golden opportunity missed”. The economist had stated that the govt should have seized the opportunity to restructure the economy. Another analyst however, said in a report that it is “almost a foregone conclusion” that Malaysia’s economy will shrink 5 per cent this year.
Opposition leader Datuk Seri Anwar Ibrahim mentioned in Parliament that promoting accountability should have been a major component in the package. “The government needs to change its attitude in order to get the people’s support, if not this stimulus package will be seen as only an exercise to rescue sick cronies and greedy monopolists, to reward the inefficient,” he said.
The first stimulus package of RM7 billion was announced last November, but estimated RM5 billion worth of projects will only take off around june. This bad packaging will take 6 to 9 months to see some real results.
I think it may be a forgone conclusion, if the worldwide trend remains negative. No one knows how long it may take to rebound. Some economists say it’s the coming of the Great Depression since 1929.
In both the 1st & 2nd Stimulus package, we find the well off Malaysians subsidizing the rich with examples like the lopsided toll & IPP. Dollar for dollar, foodstuff is cheaper in Singapore and they are not subsidized there.
The “stimulus” will likely be limited. Most of the amount will be spent on loan guarantees, infrastructure & public sector expansion, rather than on tax cuts that could stimulate productive growth. In translation, it means all cronies & buddies won’t be left out to dry and wilt. More so in the construction sector. Where do you think the missing 15,00 Bangladeshis are going to?
Khazanah, a state-owned investment company will be handed RM10billion, Which will invest in e-finance specialist…..BN.pocket.my.
Green investments projects like mandatory supply of fertilizer as the mandatory fertilizer given by Muda Agriculture Development Authority (MADA) was substandard and causes rashes to farmers using it.
And Proton will not have to worry about quality or performance again, now that they have been given handouts too.
This stimulus package would also result in a number of small white elephant undertakings. It is also reported that total leakages will add up to 30% with or without check and balance.
All this innuendoes is not making the people and country competitive. It only makes you think that everything is rosey & would be coming up roses once the economic crisis is over. It does not prepare us to face a rapidly changing world.
A major daily editor saluted that Najib was at least truthful about the crisis looming ahead. Truth after fact is either ignorance or pure mismanagement. The editor’s tongue must be on a supershine mode.
This is the unprecendented fiscal booboo of the nation.
This Band Aid remedy for a major injury may bury Najib . Share your thoughts.
Difailkan dalam: Angkatan Muda, Artikel, Berita Alternatif, KeADILan, Politik
