Tony Pua Bombard Najib Cover Up National Debt with words!
（May 26th 2018）The DAP leader，the Member of Parliament for Damansara, Tony Pua criticized former Prime Minister Datuk Seri Najib Tun Razak and tried to use words to cover up the truth about Malaysia’s debt.
Tony Pua is currently serving as a special official of the Ministry of Finance as an economic specialist to assist the new Minister of Finance, Lim Guan Eng.
He issued a statement today saying that the Finance Minister had declared in the May 24th statement that the federal government’s total debt amounted to 1.09 million ringgit, which accounted for 80.3% of the GDP.
The amount includes RM668.68 billion in federal government debt (50.8% of GDP), government pledged debt of RM1.9 billion (14.6%), and public-private partnership project (PPP) of RM 420 million (14.9%). ).
He said that when the Ministry of Finance announced 「official federal government debt」, it had already confirmed how the former prime minister avoided the occurrence or existence of liabilities in the liability sheet.
He pointed out that Najib was very proud to claim that RM 686.8 billion was official debt after the fact and there was no hidden debt, but in fact Najib was literally covering up the facts. In fact, any nominal debt situation was very bad.
“Why we mentioned the “official” federal government debt? The real reason is because the “official” number used by Najib’s past government did not take into account the real debt obligations of the federal government.”
Tony Pua mentioned that the government-guaranteed debts of the institutions of the Ministry of Finance were abused by the former government to avoid being classified as “official” debt of the federal government.
“Does Najib tell the people that simply because this is a debt guaranteed by the federal government, is it not a federal government debt?”
He said that in the data provided by the Ministry of Finance, special emphasis was placed on “promising” government guarantees. These are the guarantees that the government requires to provide services, such as the RM42.2 billion used by the state fund fund companies to build the MRT, or up to RM38 billion for a company.
“Actually, the Ministry of Finance has so far secretly repaid RM7 billion or more in 1MDB’s debt. Shouldn’t the 1MDB’s debt be regarded as federal government debt? Or, Najib is trying to tell the alliance government that we want to Should we continue to pretend these are not our debt?”
Tony Pua pointed out that the Najib government also cleverly used the public-private partnership scheme to award private contracts to private companies. However, the government does not directly pay for the construction of the project. Instead, it promised to pay the company a monthly rent equivalent to three times the value of the project.