22 October 2018

Press statement by MCA Publicity Deputy Chairman Lau Chin Kok


Bank Negara National Debt Report uncovers truth about nation’s debt; PH relies on rumours to exaggerate national debt
 
It has become common place for the Pakatan Harapan (PH) federal government to  pin all faults on the former BN government and attribute all credit to the PH government.  One of the most typical examples is to exaggerate the national debt, make people believe that the magnified figure is the truth, and then promote the administration of the PH government as successfully having lowered the national debt. Finance Minister recently tabulated our national account of 2018 in just 4 months. He claimed that as of 30 Apr 2018, there was only a balance of RM450 miilion, but this figure was increased to RM3.7 billion on 31 August 2018, a jump of RM3.25 billion. He then boasted about PH’s apparent wisdom to raise its reputation and image.    


However, Guan Eng fails to disclose the disastrous consequences of PH rule whereby a chain of negative results ensued ie outflow of billions of Ringgit from Bursa Malaysia, foreign capital withdrawal which far exceeds the nation’s income.

Guan Eng possesses skills of a marked exaggerator. A real first for Malaysia, although he is a full Cabinet Minister, he does not change his oratory style. The biggest exaggeration by the PH government is to falsely present our national debt as RM1 trillion to fire up people’s emotions. However, Guan Eng is brazen, pointing out that under the PH government’s management, our national income accounts have increased sevenfold.

Guan Eng who has served as Penang Chief Minister for two terms and claimed of using funds to raise funds and save funds. While Penang’s income under the Pakatan leadership has increased significantly, the figure relies heavily on selling state government land. Income from land sales to developers has increased the state government’s coffers. However, the frequent landslides also confirm excessive and uncontrolled development resulting with Penang ending up in a “precarious state” which faces routine floods and fatalities from landslides.

Facts speak louder than words. Bank Negara has reported that the national debt was RM725 billion. This is the most veritable authority which speaks and restores the truth about the figures of Malaysia’s national debt, whilst highlighting that the PH government has been exaggerating the national debt to frighten and confuse the rakyat.

Thus, how could the PH government overcome hundreds of billions in national debts in just four months?

Lau Chin Kok
MCA Publicity Bureau Deputy Chairman

-MCA online-