Rafizi: Has gov't pawned our assets to cover deficit?

PKR is "shocked" to learn that the government may have "sold off or pawned" the country's assets in a last-ditch effort to meet its budget deficit target.

This, said party strategy director Rafizi Ramli, appears evident in the latest World Bank report, 'Malaysia Economic Monitor: December 2013'.

In a statement today, Rafizi cited Page 10 of the report that details how the BN government plans to achieve its deficit target of four percent of GDP in 2013 from 4.5 percent  in 2012.

According to the report, of the additional RM11.8 billion in revenue to be raised above the original budget estimate, "...RM7.4 billion originated from non-tax sources, including RM1.4 billion of proceeds from asset sales and RM4.2 billion from the securitisation of government mortgages…”

Rafizi, who is also Pandan MP, said, "This is a revelation that is truly shocking, because Prime Minister Najib Abdul Razak's administration has reached the point of selling the nation's assets and pledging our country's property (through securitisation of government mortgages) to prop up his government's extravagance and wastage.

"I suspect the plan to sell off national assets has already taken place, because the aim of achieving the target deficit rate of four percent has in fact already failed.

"This means our national assets have already been sold off or pawned, so that the proceeds for 2013 can be used to close up the chasm between national revenue and expenditure," he added.

[More to follow]