Prime Minister Najib Abdul Razak's remark that the six percent Goods and Services Tax (GST) has saved Malaysia, and Budget 2016 would be revised, did not convince the DAP or Penang government.
"GST saved Najib or Malaysia?" asked Penang Chief Minister Lim Guan Eng at a press conference after officiating at the 2016 Penang International Property Summit in Bayan Baru today.
"Everyone collapsed because of the GST and our currency has depreciated. Is it worth it?"
Lim (photo) was referring to Najib's remark today that the GST has saved Malaysia in the face of a very challenging economic environment.
Najib made the remark as finance minister at a special gathering with the ministry staff in Putrajaya, the country's administrative capital.
He said the projected net collection of GST amounted to RM27.126 billion, out of the gross proceeds of RM37.67 billion as at December 2015.
But the remark failed to excite Lim, who went on to say that Najib has yet to uplift the country's reputation by not explaining the discrepancies in 1MDB’s land sale in Bandar Malaysia to Iskandar Waterfront Holdings and China Railway (IWH-CREC) joint venture.
He was referring to discrepancies involving 1MDB's earlier announcement that the state-owned investment firm will receive RM7.41 billion for the sale, while China Railway announced to the Hong Kong Exchange that the RM5.279 billion was the transacted price.
He added that if Najib wants to revive confidence in the country's economy, he should not depend on selling real estate to foreigners.
"Money should be spent on education, infrastructure, innovation and public transport as we are doing in Penang," Lim said.
He said the state's local government (Penang Island City Council and Seberang Perai Municipal Council) spend more of its expenditure to hire locals instead of foreigners.
"Will they (Putrajaya) adopt Penang's approach?" He asked.
Lim questioned the logic behind Najib's latest plan to revise the budget, saying what is more important is a "clean government".
"Penang has managed without collecting GST and is still able to provide cash handouts to senior citizens and the needy," boasted the DAP secretary-general.
"What is the point of revising the budget if you are not clean?" -Mkini
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