PRIME Minister Najib Razak today refused to answer a question in Parliament on the effects of 1Malaysia Development Bhd’s (1MDB) debts on the economy.
Instead, Najib, who is also Finance Minister, called attention to the water crisis that had recently hit many parts of the Klang Valley.
Mohamed Azmin Ali (PKR-Gombak) had asked Najib to explain whether 1MDB’s debts had led to an increase in Malaysia’s interest payments, which as of 2016 amounted to 12.5% of the country’s income.
“Selangor water crisis is more critical,” Najib replied, to the delight of several Barisan Nasional lawmakers.
This prompted Azmin, who is also Selangor Menteri Besar, to protest the answer and ask Dewan Rakyat speaker Pandikar Amin Mulia why Najib (BN-Pekan) was allowed to avoid answering Azmin’s question.
“If BN lawmakers are confident of the prime minister, let the prime minister answer (my question),” Azmin said.
Abdul Azeez Rahim (BN-Baling) said: “We are not confident of Selangor; today we didn’t have water to shower.”
Azeez said 1MDB’s debts had nothing to do with Malaysia.
Othman Abdul (BN-Pendang), Noraini Ahmad (BN-Parit Sulong), Normala Abdul Samad (BN-Pasir Gudang) Ahmad Nazlan Idris(BN-Jerantut) also spoke up to chide Azmin for interrupting the prime minister.
Pandikar intervened to remind the MPs to stick to the Dewan Rakyat’s standing order.
The Speaker said both 1MDB and water crisis were critical issues.
“Sometimes the questions have different meanings and same goes for the answers which will also have different meanings. That’s politics… as long as it doesn’t violate the standing order,” he said.
Azmin had quoted a Straits Times report last month that said high interest payments, low government revenue and off-the-books bailouts of state firms had sparked concerns of a looming budget crisis in Malaysia despite Najib’s assurance that the country’s total borrowings were well under control.
In January, Najib said Malaysia’s total debt of RM685.1 billion last year compared favourably against other countries, because the sum was only 50.9% of the gross domestic product (GDP).
“Malaysia is better off than developed countries such as Singapore at 112%, United Kingdom at 89.3%, Canada at 92.3%,” Najib was quoted as saying. He declined to explain how Singapore was able to spend far less servicing its debt, using only 6.1% of its revenue in 2016.
This year, Putrajaya is expected to pay RM31 billion in interest, more than double the amount in 2009, the year Najib took office and when the government’s interest burden was less than 9% of its revenue, according to the Straits Times.
Najib later said Azmin should have given him the chance to answer the question as the issue was not the size of the nation’s debt but the nation’s ability to repay it.
“I’m just making a comparison, why is Gombak (MP) defensive when we talk about water?” he said.
“We have the ability to repay (our debts); this shouldn’t be questioned because international rating agencies have placed us in the ‘A’ category.
“This means that our nation’s finances, including our national debt, are well-managed. We hope the water problems in Selangor will be just as properly managed,” he said. – March 12, 2018.
Comments
Posted 6 years ago by Leslie Chan · Reply
Posted 6 years ago by Can Lim · Reply
Posted 6 years ago by Peace Maker · Reply
Posted 6 years ago by Xuz ZG · Reply
Posted 6 years ago by Zureen ariff · Reply
1MDB? How many billions have already been stolen and lost? Worse, the resultant damage from all sorts of related measures and deals like Bandar Malasysia and TRX are sucking in many more billions from several government agencies. The negative impact on foreign investments from the deep corruption, coverup attempts and loss of confidence in the Malaysian government surely goes into many tens, even hundreds, of billions. Even my yet-unborn grandchildren may likely the hurt.
It is good that Najib has clearly stated just what his sense of priorities are. With GE14 to take place shortly, the rakyat can evaluate for themselves whether Najib and his yes-men syncophants deserve their votes.
Posted 6 years ago by K TWong · Reply