10MP – Conspiracy of the Rich
Thus we have 52 high impact projects worth RM63, 000,000,000. That’s 63 thousand million. We shall see who gets to build the 7 highways worth RM19, 000,000,000. We are also building 2 coal fired electricity plants worth RM 7,000,000,000. Will that be furthering the cause of green technology?
Sungai Buloh land will be developed jointly by EPF and its partners for RM10,000,000,000. I have written about the development of the Sungai Besi Air Force Base . It will be led by the 1MDB- nee Terengganu Sovereign Fund. It will be advised by that splendid young man Taek Jho Low and his Qatari friends. Who knows at the launching of the project we shall be entertained by the likes of Usher, J.Lo and Rihana. Let’s see whether they will develop this properly directly or they will do what privileged business people do- flip deals by selling the package to another party.
RM18,000,000,000 will be spent on 2 aluminum smelting plants, absorbing the excess electricity generated by the Bakun Dam. PETRONAS will construct LNG regassification plant for RM 3,000,000,000. We shall watch closely who PETRONAS appoints as its contractors.
Of course the government will subsidise the financing of these projects. It has created a financing vehicle to help spend RM 20,000,000,000. This isn’t termed as subsidy. Subsidies are those expenditures that are not reciprocated by giving value. These companies give value so; the RM 20,000,000,000 is not subsidy. Subsidy is given to lazy people mostly Malays and so must be rescinded. These are those who clamoured for affirmative action policies but who didn’t become market friendly.
