Ku Li rains criticism on Najib's economic plans

  • MH192’s number three main wheel burst during take off, says Hishammuddin – Bernama
    MH192’s number three main wheel burst during take off, says Hishammuddin – Bernama

    Preliminary investigation findings on the Malaysia Airlines (MAS) flight MH192 incident has revealed that the number three main wheel of the aircraft had burst during take off. Acting Transport Minister Datuk Seri Hishammuddin Hussein (pic) said the aircraft was currently grounded at the MAS Engineering facility in Kuala Lumpur International... …

  • Bible banned from Pahang hotel rooms – Bernama

    The Pahang Islamic and Malay Customs Council (MAIP) has prohibited hotel proprietors in the state from placing religious reading materials of other religions other than Islam in their rooms. According to MAIP deputy president, Datuk Seri Wan Abdul Wahid Wan Hassan, a letter of prohibition on the matter had been sent to 147 hotels across the... …

  • Pre-lim report to ICAO not public, yet

    Malaysia has yet to decide on whether the preliminary report on the MH370 incident submitted to the International Civil Aviation Organisation (ICAO) will be made public.   "We have issued the preliminary report. We've sent it to ICAO but we have not made a decision to release to media or the public," Department of Civil Aviation Chief Azharuddin Abdul Rahman said during a press conference in Kuala Lumpur.   Asked again on why it will not be released to public, although it is common practice, …

  • Take second job to tackle household debt, urges AKPK – Bernama
    Take second job to tackle household debt, urges AKPK – Bernama

    The Credit Counseling and Debt Management Agency (AKPK) has urged Malaysians to take a second job to help them tackle the high rate of household debt. Chief executive officer Koid Swee Lian (pic) said those in the teaching line, for example, could give extra classes to earn more money. "Teachers could earn more money by giving tuition to... …

  • International team probing MH370 to be finalised next week, Hishammuddin says
    International team probing MH370 to be finalised next week, Hishammuddin says

    KUALA LUMPUR, April 23 — Malaysia expects to finalise by next week the list of members on the independent team of experts commissioned by Putrajaya to carry out an extensive probe on the... …

  • Absolute power corrupts absolutely, Dr Mahathir reminds current leaders
    Absolute power corrupts absolutely, Dr Mahathir reminds current leaders

    Malaysian leaders have been reminded not to look down on the public’s capability to topple a corrupt government as what had happened in the Middle East during the Arab spring, warned Tun Dr Mahathir Mohamad (pic). In his latest blog posting today, the country’s longest serving prime minister said that monarchs and dictators in the Middle East... …

Taking a swipe at Prime Minister Najib Abdul Razak's economic plans, former finance minister Tengku Razaleigh Hamzah dismissed them as misdirected.

This included the much-hyped Government Tranformation Programme and Economic Transformation Programme introduced by Najib in 2010 which did not receive the support of the Chinese or was welcomed by the Malays in getting their votes for the 13th general election.

Tengku Razaleigh ( left ), who was the founder of Petronas and a key member in the administration of Najib's father, Abdul Razak Hussein, also described the government's proposed new slogan of 'Endless Possibilities as ambiguous.

"This shift will not assuage anyone," he said.

The Umno veteran also criticised the Bantuan Rakyat 1Malaysia (BR1M 1 and 2), saying that it worsened the national debt.

BR1M1 and BR1M2 given prior to the 13th general election, he said, had received a cynical reception and is not sustainable in the long term.

"In fact, it merely led to a doubling of the national debt over the last three years. In 2012 public debt was RM502 billion and by the end of this year it is expected to be around RM546 billion.

The 2013 public debt will surely exceed 55 percent of the legislated ceiling," he warned.

Ku Li also listed other faults in the country that included:

Political parties from both aisles are seen by voters as pervasively corrupted, riddled with nepotism, cronyism and racism. There exist institutional distortions that included the rule of law, independence of the judiciary, the distorted role of the Attorney-General's Chambers; the government's control over the mass media, the abuse of social media and sedition issues, the question of freedom of information; and the legal shackles on the Malaysian Anti-Corruption Commission. A need to urgently to review the government delivery system, including the government transformation programme, because of the rising crime rate, corruption, wastage and inefficiency.

Critical juncture

Razaleigh said following the results of the 13th general election and the so-called 2008 political tsunami, there is a need for a new action plan, so that we are better prepared to face the recurring challenges.

First and foremost, he urged for a clean government with integrity to combat corruption.

"During the last decade, reports say Malaysia lost US$338 billion through illicit money outflows; and that 50 percent of Malaysian companies report they lose business opportunities because rival companies pay bribes to decision makers.

"There is the rising cost of living and high personal debt levels, the ratio of household debt in Malaysia is among the highest at 140 percent, or the household debt is 1.4 times their disposable income, the economic imbalances that remain after 40 years of the New Economic Policy (NEP) and its variants."

He warned that the challenges that the country faces included internal budget constraints and external structural adjustments in the world economy consequent to the financial crisis of 2008 that will have an impact on our growth prospects in the short and medium terms.

Razaleigh said economic projections available to him show a strong dip next year, with recovery being uncertain as to whether it is going to be fast or will it take a longer time.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • The Poop on Pooping: 5 Misconceptions Explained LiveScience.com

    Here is the truth behind five common misconceptions about defecating. Misconception No. 1: Daily pooping is normal, and optimal. …

  • Dr Ling’s son chose wine over woman, court hears The Malaysian Insider
    Dr Ling’s son chose wine over woman, court hears

    The son of former MCA president Tun Dr Ling Liong Sik today reached an out of court settlement with his ex-girlfriend in a breach of contract suit over seven properties registered under their joint names. Ling Hee Leong and businesswoman Teh Chee Yen agreed to settle out of court after he took the stand briefly and testified that he had chosen... …