Should we not nationalise the ill-gotten gains of the BN and its cronies?

When Pakatan Rakyat takes over the Federal Government, the question of what to do about the BN cronies and their ill-gotten assets will surely arise. There is no law that deals with this situation in Malaysia’s statutes and it may become necessary to legislate one. We are, after all, talking about billions in assets in and outside Malaysia.

Of course the suspected businessman and their politician accomplices will have to be investigated, and they will have the right to a fair trial. However, if it is found that there were corrupt acts in their gaining the rights or licenses to certain businesses, then the state should have the right to nationalize their assets.

A different nationalisation and criminal court

Nationalization will return stolen assets back to their rightful owners, the long-suffering people of Malaysia. Nor should any assets that they have amassed or stashed outside the country be spared.

Take for example, the IPPs. They have been making billions in profits while stubbornly refusing to reduce their rates. They are paid by Tenaga. Tenaga gets its revenue by collecting from the people.This essentially means the IPPs are collecting money from the people, with Tenaga as a go-between.

If there was wrongdoing or corrupt practices in the awarding of those contracts, then the people have been wronged, and the new government should be given the right to nationalize those assets. In addition, of course, the owners will have to face a separate criminal court.

Justice at last

Let’s consider another example ; Astro. This widely despised monopoly provides bad programming, poor service and overcharges you for their services. Their revenue comes almost entirely from charging individual citizens. The key question is why was Astro granted such an outrageous monopoly? We are talking about entertainment here, not national security! Why did the government grant Astro such generous terms?

Astro’s owner, Ananda Krishnan, has been accused by India’s CBI in a corruption case involving India’s then Telecom Minister. A thorough investigation must be carried out by the new Pakatan government. The current BN government has declined to investigate Ananda, already a suspicious stand. If corrupt practices were involved in Astro gaining their licenses to broadcast in Malaysia, it could be grounds for nationalization of the broadcaster.

And so on, and so forth. But the rakyat must get justice. And the cronies must receive justice. What thinks you all? Agree?

Malaysia Chronicle