Is US investment money a ‘loan’ to the govt, asks Mahathir

Former PM asks how the government will repay the 'loan' to Malaysians if it fails to make profits from the deals with the US.

PETALING JAYA: Former prime minister Dr Mahathir Mohamad today took a jab at the authorities, asking if the billions to be invested in the US are a “loan” to the government.

“Workers may want to know the terms of the loan.

“The government’s management of 1MDB does not convince the people that it is skilled at managing money. If it fails to make profits, how will it repay the loan to the workers of Malaysia?” he said in a blog post.

During his recent visit to the White House, Prime Minister Najib Razak had told US President Donald Trump that Malaysia Airlines would buy 25 Boeing 737 jets and eight 787 Dreamliners, with another 25 737s slated for purchase in the near future.

Najib said the deal would be worth more than US$10 billion within five years.

At the same meeting, he also said the Employees Provident Fund (EPF) wanted to spend US$3 billion to US$4 billion on US infrastructure development.

Mahathir, who is chairman of opposition coalition Pakatan Harapan, said the workers of Malaysia would “no doubt” support Najib’s use of their pension money “to enrich further the already rich United States”.

“I am sure they don’t mind losing their money in this generous gesture,” he said.

“At the moment, the government does not seem to have money. Malaysia Airlines is also not the most profitable airline company in the world.

“The question is, will we be seeing the US$10 billion again or will it disappear like 1MDB money?”

Noting that there was “always the right price” for anything, he said Najib’s visit to the US would go down in history as “the best example of how the poor can help the rich”.  - Mkini