Anwar predicts doom for Najib’s plan
By Rahmah Ghazali, Free Malaysia Today
KUALA LUMPUR: Opposition Leader Anwar Ibrahim is not impressed with the 10th Malaysian Plan (10MP), saying there is little difference between this blueprint and its “failed” predecessors.
According to the Permatang Pauh MP, the government has always over-projected the Gross Domestic Product (GDP) and the new plan does the same.
Prime Minister Najib Tun Razak set a six percent growth for the GDP and aimed to reduce deficit from seven to 2.8 percent.
Najib’s plan was given the thumbs up by certain quarters, but Anwar, a former finance minister, felt that it was “just another billion-ringgit announcement.”
“In terms of thought process, 10MP is nowhere different compared to the previous economic plans although our financial situation is now at crossroads,” he added.
For instance, explained Anwar, the Eighth Malaysia Plan (8MP) announced by former prime minister Dr Mahathir Mohamad projected 7.5 percent growth for the GDP for 2001 to 2005.
“However, throughout that period, we only managed to achieve 4.7 percent,” he said.
When Abdullah Ahmad Badawi took over, Anwar said the situation worsened when the former premier demanded national oil company Petronas to fork out RM235.6 billion to sustain the economy from 2006 and 2009 under the Ninth Malaysia Plan (9MP).
“But the economy only managed to grow at an average of 4.2 percent while in the plan, they projected six percent for the GDP,” he said.
Since its establishment in the 1970s, Anwar said Petronas has paid a total of RM431 billion to the government and 55 percent of its revenue has been spent “without any impact on our economy”.
“In other countries, our dependency on debts could be reduced if a government-owned company contributed even 45 percent of its revenue,” he added.
