Dare Najib take up Anwar's challenge? I think not. It's too frivolous for Najib

Pakatan reforms to cost only RM19 billion, says Anwar

By Adib Zalkapli

January 11, 2011

PETALING JAYA, Jan 11 — Datuk Seri Anwar Ibrahim challenged Datuk Seri Najib Razak today to a debate, after the prime minister said yesterday that the Pakatan Rakyat’s (PR) 100 day programme would bankrupt the country.

The opposition leader told a press conference here that PR’s agenda unveiled at the coalition's second convention last month would only cost RM19.2 billion, lower than RM51 billion, which Anwar (picture) claimed was “stolen from the national economy to keep the cronies afloat.”

“I am suggesting a public debate with the government so these figures could be presented to the public, so the people may decide based on the figures and not lies,” said Anwar.

“It is a bit presumptuous for the prime minister to claim that Pakatan’s 100-day reform programme will bankrupt the country since it is Umno BN-led government that had borrowed excessively each year,” he added.

Yesterday, Najib described the promises as populist and irresponsible. He also claimed that the policy ignored the country’s financial limitations.

Among the reforms promised by the PR coalition, within the first 100 days of taking over Putrajaya, is to increase the incentives for teachers by RM500 a month.

PR also promised to repeal of the Internal Security Act (ISA), abolishing the toll system by instructing Khazanah Berhad, Employees Provident Fund (EPF) and other government bodies to take over highway assets from the concessionaires, as well as offering free wireless Internet access to those in urban and semi-urban areas.

Elaborating the cost of PR’s promises, Anwar said the special allowances for teachers and education officers would only cost the country RM3.2 billion annually, while maintaining the fuel and LPG subsidy would cost RM8 billion per year.

On the proposal to take over the toll system, Anwar said it would cost an additional RM8 billion to acquire the minority shareholders.

“The restructuring of the toll system under PLUS is expected to cost RM23 billion, based on the current offer made by Khazanah and EPF. The additional cost to acquire minority shareholders is approximately RM8 billion,” said Anwar.

“The additional cost required to fund Pakatan’s 100-day programme is only RM19.2 billion, an amount equivalent to the existing corporate subsidies fed to IPPs each year. This is a pittance compared to the RM51 billion stolen from our national economy to keep the cronies afloat and fat,” he added.

Anwar also called the Najib administration irresponsible for borrowing excessively, even when the national debt has breached 50 per cent of the GDP.

“Malaysia government’s debt for 2009 rose to RM362.39 billion or 53.7 per cent of GDP. The level of national debt in fact worsened under the stewardship of the current prime minister. The government undertook 19 bond programmes with a combined value of RM58.1 billion in 2010,” said Anwar.

He pointed out that Bank Negara had also announced that the government would launch 29 additional bond programmes in 2011, which he said would involve RM83 billion of new debts to be undertaken by the federal government.

“Therefore, the prime minister’s criticism of Pakatan’s 100-day reform programme should be viewed in this perspective. Malaysia is en route to bankruptcy at the rate that it is raising debt to fund Umno/BN’s addiction to wasteful spending and corruption that is endemic to the crony capitalism structure that it props,” said Anwar.