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Saturday, May 29, 2010

UMNO Has Been Subsidizing the Rich All This While.

My first knee jerk response to Idris Jala/Najib Tun Razak’s material on subsidy reduction is to ask Idris/Najib: What about the subsidy the rich has been getting from Barisan Nasional all this while.

The first example that comes to mind is the Independent Power Producers (IPP) whom has been getting a subsidy on their gas purchase amounting to RM13 billion a year. And they have been getting this subsidy since 10-15 years ago.

The other example that comes to mind is the concession holder for the LRT project. When their business went under, the government pumped RM11-12 billion into the companies just to make the cronies happy. When it was cheaper for the government to let the crony go bankrupt and buy their assets at market price.

It would have cost the government less than Rm1 billion to salvage the LRT project and use the other RM10 billion to build more tracks and buy more trains. But, UMNO and BN has decided to bail-out the corrupt and idiotic companies which are directly linked to UMNO.

The other example is PROTON. Being that it is an impractical project right from the start (1982), it was doomed to fail. And failed it did as in 1986, the factories were nearly closed down and was operating for less than 4 hours a day.

Then the government started pumping in more money into the failed project just to keep it alive. In addition, UMNO instituted the current exice duty system that essentially made all the other cars far more expensive so that Proton can be sold at higher price domestically. As a result, the people had to buy a Proton Wira at RM60k when at RM60k, average Malaysians should be able to buy a BMW.

We wasted billions on Proton. What can be accounted for, Proton’s loss is estimated about RM11-12 billion. The true amount of loss is still unknown. If the RM11-12 billions is used to expand the LRT system, I am very sure the amount of petrol used by the Malaysians can be significantly reduced. Thus reducing amount of subsidy paid for by the government.

More example: Bail out of the LRT system. The government spent RM11-12 billion just to bail out their cronies, when it was cheaper to buy the concession holders at market price. The government would have saved more than RM10billion at the expense of a few cronies going bankrupt and living on the streets.

The extra cash would have enabled us to build more LRT system that will in turn allow Malaysians to use less petrol thus reducing amount of subsidy. But, UMNO rather save their cronies than to help the people.

What about the subsidy we paid to Eric Chia and Perwaja? I saw Eric’s house in PJ and let me tell you he really knew how to spend the subsidy money UMNO paid to PERWAJA. Until now, he is scott free spending the subsidy money UMNO gave to him.

So, please, UMNO. Stop showing your hypocrisy. You have been true to your identity as a con artist. You have been supporting the rich at the expense of the poor from the first day of your inception. You are a class 1 liar.

Tulang Besi

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  1. Our kera kena belcan terancat akal nak jadi bill gates chootia gomen dah hilang punca..addicted to kongkek,bling bling,they r borrrowing money heavyly shows our terancat akai gomen dah jadi ketagih bon..any type of bon..islamic bon,traditional bon..every day we r becoming worse than greece..greece gomen(tak kira socialist,kapitalist,demokratist) covered up thier mega ootang..n our chootia sambal belacan pariah gomen oso doing the same greece too,we r most likely secretly seeking assitance frm the IMF,world bank,hedge funds to f*k things up even more..

  2. Mornin bro..our country became pro bizniz anti workers/labour the day that closet homo retarded malayali iblis kutty bcame peeM..all our finacial models was actually catered for the rich types..BUT..when it comes to loan recovery,haha..poor rakyat lewat siki bayar loan rumah/kereta/watever,surat cinta frm loyar lakas lakas sampai,where s,chootia haprak pariah terancat akai barua cukong caking billions of debt r still not collected..cannot collect oso,becos all r cronies connected to chootia sambal kera kena belacan gomen..for some time now,our gaji talak naik..terpaksa pulak kerja mcm gila utk menyara hidup,terpaksa pinjam dri ah long,pakai credit card utk finance kita punya incmome defict..sheesh..this is dangerous that that our brain dead gomen nak potong subsidi,everthing is gonna be volcanic..oredi,there r pakar ekonomi frm US predicting world wide revolution,becos of kechootiaan of neo feudal gomens..they r now seriusly studying the french revolution,bolshevic very important economist discovered many decades ago,whenever there is a huge disparity of income between the rich n poor(like it was in france n russia b4 their revolutions)depression,social unrest,upheavel akan berlaku..n my guess is our sambal belacan gomen cannot escape people's wrath..mana depa nak lari?..depa punya secret swiss account can be investagetd..interpol akan ligan mereka in every mafia money laundering states, will bcome a global effort to salibkan these pariah terancat akai feudal rogues...

  3. Eric Chia passed away last year.

    But no doubt he laughed all the way to the bank and his grave at the expense of the Malaysian Rakyat. Perwaja's actual losses were about 10-12 billion, but Mahathir said it was only a couple of billion!!

    we are all of 1 race, the Human Race

  4. Hi everyone,

    The BN govt, especially UMNO, had for the past 53 years been enriching their giant crony companies with 'obscene profits' through direct tenders. This process, as well as the hijacking of the NEP in its implementation, not only enriched their cronies, but have also enriched the BN parties and politically connected individuals through 'kickbacks', all at the expense of the rakyat and future generations.

    Now, the call for reduction of subsidies by a non-BN party minister is a very 'smart' move to deflect blame on BN parties and cronies of the dire financial situation the country faces. What is the use of savings through reduction in subsidies if the Federal Govt mismanages the peoples' funds through inflated prices of govt projects to continue to enrich their cronies, UMNOputras and BNputras included! There is no political will to reduce and/or stop such abuses!

  5. Kill the cancerous disease and the patient will survive, likewise get rid of the root cause and the Nation will survive and thrive.

    It does not matter what they do because whatever they do will be to no avail. Like RPK said in London, it is no good attempting to treat the symptoms because it just simply will not work. It is the cancerous disease that should be treated. So therefore as long as UMNO is in the driver seat then absolutely nothing could be done. Before anything else, UMNO will first have to line their pockets, then their families pockets, then their cronies pockets and then whatever morsels left to the selected segment of the rakyat. So how much is enough? It does not matter how much natural resources Malaysia possess for come one day these resources will eventually be exhausted. Then what?

    Be like Singapore one might suggest. But do our leaders have that mentality and maturity to do so? With the present government – not by an extra mile mate!

    So what can we the rakyat do? Well we can change all these just by a stroke of the pen. Quoting RPK, ‘We the rakyat is the boss’. So come GE13 with the stroke of the pen, we could effectively change the government and consign UMNO/BN to the gutter. Well not totally to the gutter but enough to effect them to be the opposition as at the end of the day checks and balances are still needed irregardless of who is forming the government on that day.

  6. //Be like Singapore one might suggest.//

    u must b joking..that coutry is eqully retard like us..its heavyly dependent on foreigners for thier survival..its an artifical phoney land,with very large external debts,n high inequality..just like us..b like norway,or cuba or even china!

  7. //Well we can change all these just by a stroke of the pen//

    u r a blind worshipper of that retard che guava jus kot raja petra kot?...if pen could do the job,pakatan would b ruling the country by now..get real for once..malaysians r zombis afflictedd by too much of bling bling,get rich quick down syndrome..lill bit of hammering n suffering r necessary for the rakyat!!


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