Cost-savings went to paying for BN govt's wrongdoing, says Guan Eng

Ragananthini Vethasalam Ragananthini Vethasalam Updated 7 years ago · Published on 9 Apr 2019 6:43PM · 3 Comments

Finance Minister Lim Guan Eng looks (centre) at the Credit Guarantee Corp 24th SME Awards, in Kuala Lumpur, today. – The Malaysian Insight pic by Najjua Zulkefli, April 9, 2019.

ALL the cost-savings Putrajaya struggled to achieve have “disappeared” thanks to the financial mess left behind by the former administration, said Finance Minister Lim Guan Eng.

Lim said it is now Putrajaya’s responsibility bail out organisations such as Tabung Haji and the Federal Land Development Authority (Felda) which are debt-riddled due to mismanagement and power abuse.

“As the government we have to support both Felda and Lembaga Tabung Haji,” he said, after launching the Credit Guarantee Corp 24th SME Awards.

“(The) previous government (did) everything wrong causing such huge losses. (It is why even though) we have made so much savings, the savings have disappeared.”

He was referring to savings achieved through the renegotiation of contracts for the Mass Rapid Transit 2 (MRT2) and Light Rail Transit 3 (LRT3) projects.

On whether the Finance Ministry has the funds to save Felda, Lim said he was reserving comment as Felda is under the purview of Economic Affairs Minister Mohd Azmin Ali, who will table a white paper on on the agency in parliament tomorrow.

Putrajaya is considering a RM3 billion package to ease the cashflow of beleaguered Felda.

Lim said in Tabung Haji’s case the government had studied its financials before deciding it could afford to fund a RM17.8 billion bailout process over a period of ten years.

“YB Mujahid (Minister in the Prime Minister’s Department Dr Mujahid Yusof Rawa)  was asking how come so much money was lost under the previous government.”

Lim said the question was what could have brought the pilgrimage fund to such a state as to require a bailout of such magnitude. – April 9, 2019.

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Comments

  • This is the pain we have to endure because of corruption, kleptocracy, race policies, and you scratch my back, i scratch yours. Most if not all ministers are filthy rich. It is the common people who are suffering. If the reforms promised by PH are not real, God bless our people. The next government may become bolder and

    Posted 7 years ago by Concerned Citizen · Reply

  • The next government may become bolder because nobody can "touch" them. The people deliver the mandate but if PH failed, who else can the people rely on.

    Imagine the billions wasted misused or stolen in the last 60 years. Now we have to pay the price and the question is for how long more?

    Posted 7 years ago by Concerned Citizen · Reply

  • LGE. yes agreed on the past govt greed and cheat but why are the crooks..isa, nazri, adnan etc all still walking free???

    Posted 7 years ago by . . · Reply