SCwatch


CAN MALAYSIA BE ‘SANTA CLAUS’ LIKE SAUDI ARABIA WHICH GIVES US$36 BILLION WINDFALL TO ITS PEOPLE?

The turmoil happening in MENA (Middle East & North Africa) …… which will possibly spread to other parts of the world …… stems from bread & butter stuff.

This was even confirmed by our dear ol’Tun Daim Zainuddin in an interview with the local China Press newspaper.

If the costs of living rises for the people AND coupled with the perception that corruption and leakages has correspondingly risen ……..  it will be the perfect recipe for mayhem in the country!

This has happened in Tunisia, Ivory Coast, Bahrain, Yemen, Egypt, Algeria, Oman, Libya ……. whilst countries where it is being suppressed include China, Zimbabwe, Thailand etc.

As explained by Tun Daim Zainuddin:-

“People are not interested in slogans and the various acronyms. They are more concerned with bread and butter issues. They are against corruption. They want the government to protect their safety. They want their children to have good education. Rural people want water, electricity, good schools and other basic amenities.”

Of course, the preferable way for these regimes is …… to have super-duper cash surpluses from which they can spend, spend, spend (read: give, give, give like Santa Claus) and effectively cajole its citizenry to be friends and supporters with the incumbent government.

Just look at what Saudi Arabia has done ….. US$36 billion to be effectively given away to its people.

With a population similar to Malaysia i.e. 25 million, each citizen would on average receive US$1,440.

With an average family size of 5.2, each family would receive on average US$7,500.

Wow! That’s RM23,250 at today’s rates.

Now, can Malaysia emulate Saudi Arabia?

Even with the new oil finds off the coasts of Malaysia, would the UMNO led government be able to BUY the loyalty of its citizenry with hard cash?

Unlikely. Malaysia just does not have RM1.1 trillion (US$36 billion) to give away to its citizens!

Yes, there’s Petronas, but the tap cannot run perpetually ….. and it does NOT contribute 100% to the government financing requirements!

Notwithstanding, the government has made big plans and promises to the people ….. so how is it going to be financed?

The concern therefore is that its deficit budget (i.e. shortfall due to spending being higher than income) will just keep on rising from the current 5.4% to a figure that can kick the government out of office ….. just like they did in Ireland.

But for UMNO, their immediate concern is to stay in power ….. everything else will become incidental! 

This then becomes the concern of the Rakyat.

Will the government machinery that is supposed to be for the benefit of its people be used for the ulterior motives of politicians?

Will taxpayers’ money be used to further the political ambitions of the incumbents?

How are we to know that the money has been put to good use and not lost substantially to leakages and wastages?

A clear example is the government arm, Prasarana, that has effectively ‘bailed-out’ the entities responsible for the transport needs especially in the city …. to the tune of RM10.4 billion.

Prasarana screwed up themselves and lost further tax-payers’ money ….. and now under ‘new’ management, are proposing to raise a further RM10 billion through bond issues for its extension works!

With such a woeful track record, how are we to know if monies will be properly spent …… especially when we don’t trust the UMNO cronies?

 

A workable way …….. 

A TWO PARTY PARLIAMENTARY SYSTEM IN MALAYSIA … WITH NEITHER PARTY HOLDING A TWO THIRDS MAJORITY….. WITH KEY INSTITUTIONS FREE FROM CLUTCHES OF THE POLITICIANS!

That would probably be a good start ………

Click HERE for news about the Saudi Arabian government playing sugar daddy to its people ….. and HERE for prognosis for coming General Elections.

For Prasarana’s RM10 billion bond issue for its ‘extensions’ click HERE

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