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Wednesday, June 15, 2011

‘Pakatan not against ETP’

But projects under the programme must succeed as failure won't bring good to anyone, says PAS MP Dzulkefly Ahmad.

KUALA LUMPUR: Contrary to popular opinion, Pakatan Rakyat is not against the government’s Economic Transformation Programme (ETP), a PAS MP said today.

Kuala Selangor MP Dzulkefly Ahmad said that Pakatan MPs did not want to see the ETP projects fail needlessly.

“We in Pakatan Rakyat want all these projects under the ETP to succeed. Because their failure won’t bring good to anyone,” he told reporters in Parliament today.

Even so, the PAS MP appeared convinced that the ETP, under the helm of Prime Minister Najib Tun Razak, was going the wrong way.

He said that many of the announced initiatives in recent days were nothing more than “feel-good factors” and examples of “paper wealth”.

One example, he pointed out, was shares belonging to the company drafted to develop the 1MyEmail project, Tricubes.

“Government-linked company (GLC) or large private company shares jump when their company names are listed under the EPP (Entry Point Projects)-ETP.”

“Tricubes shares jumped from 5.5 sen to 32.5 sen (491%) as soon as it was announced that the company was to receive the 1MyEmail project,” he said.

Their share price, however, fell to 10.5 sen, Dzulkefly added, after Tricubes was known to be a GN3 company saddled with debts.

As one of Najib’s many brainchilds, the ETP is a formula purported to turn Malaysia’s ailing economy through billions of ringgit in investments.

‘Come clean on amount of investments’

The government recently boasted that it had pulled in RM170 billion in investments through 65 EPPs, as well as seeing half of its 131 of the identified EPPs completed in less than a year.

Dzulkefly was not impressed. “I wish to remind the PM not to go overboard in announcing the EPP-ETP projects as it may have a reverse effect on the share market,” he said.

DAP’s Klang MP Charles Santiago, meanwhile, said that the government was evasive on the exact amount of investments poured into the ETP.

He asked the Prime Minister’s Department yesterday on the ETP’s actual investments from January to May 2011, as well as the number of new jobs created during that time.

Instead of answering the question, Santiago said that the PM’s Department chose to highlight the ETP’s predictions.

“More than 3.3 milion new jobs will be created on the road to 2020” was the response, along with the boast of that 50% of EPP projects had started.

The answer was not to the DAP MP’s liking. “There was no mention of the amount of investments and how many jobs were created,” said Santiago.

Adding that actual investments were always smaller than what was announced, the DAP MP wondered if the government knew of the exact figure.

“The government has no idea. They should tell Malaysians how many investments there are,” he said.

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