KUALA LUMPUR - Malaysians are not a happy lot and their anger is mostly directed at their Prime Minister Najib Razak and his wife Rosmah Mansor. The controversial couple have been blamed for the Good & Services Tax or GST, which has pushed up prices of some 85% of necessities.
As Finance Minister, Najib bears the brunt of the public's anger for refusing to defer the unpopular tax. Najib claims it is needed to raise government revenue but critics have demanded a full explanation as to why such an oil-rich country as Malaysia would find itself in straitened circumstances, requiring emergency injection of funds.
Najib's 'brainchild', the 1MDB sovereign' fund has been blamed for exacerbating the financial mess.
Citing local banks’ exposure to loans given out to 1MDB, ratings agency Moody’s has already given Malaysia a “credit negative” rating, while Fitch Ratings warned that a credit downgrade was likely.
Indeed, government debt is now at its highest level and Malaysia risks being shunned by international investors seeking quality. The ratings cuts will alsor hamper the ability of the Malaysian government to borrow its way out of trouble, as it has been doing for the past decades. This, financial pundits say, is why Najib had to 'force' GST down the people's throats.
Will GST be spent on the elite and their excesses
But while the elite partied, the rest of the nation bit the bullet. Many Malaysians have expressed their fears on the social media that their hard-earned money will be used to fund frivolous pursuits or to bail out ruling party Umno's failed money-making schemes and projects.
Small trader Khairil Azlan said he could already feel the GST impact on prices of goods.
“The prices of all necessities have increased. Only prices of rice, cooking oil and eggs have not increased. So, just because my customers want to save money, do they have to eat ‘nasi bujang’ (rice with fried egg) every day when the ministers are having their meals at five-star hotels?”
Student Ngeow Xuan Ying, 19, expressed her disappointment with the implementation of GST as the rate was “too much”. She said she could not even afford to pay for items at a normal price, but now it was more expensive with GST.
“For us, the 6% GST charge is too much and as a result, food prices at restaurants have increased, as well as groceries.”
Aloof & inexplicably 'too wealthy' at the people's expense
It has not helped that Najib has chosen to stay aloof of public criticism. As the ordinary folk grouse on social media, his Inspector General of Police has cracked down on critics, charging them with Sedition in a bid to create a climate of fear.
The only people who seem to be unafraid to live in Malaysia these days are the Umno elite, in particular the crowd that supports Najib. Not a sound of protest has been uttered against the PM by his Cabinet despite news of his spending 'bombshells' even as he urged the people to tighten their belts.
One such 'excess' was his administration's purchase of a luxury jetliner for his and Rosmah's foreign travels. The new Airbus ACJ320 jet will cost taxpayers RM46 million a year, or RM690 million for 15 years.
"If we include the seven-year OMM cost for the old ACJ319 jet, then the total OMM cost for both jets is RM1.098 billion," Opposition MP RafiziRamli told a press conference at the Parliament lobby.
Mega wedding as the people pay for GST
But what has really rubbed in the salt are the photos of Najib's daughter's wedding held at the posh KLCC Convention Centre over the weekend.
'Mega' extravagance had been expected given Rosmah's well-known penchant for super-luxury, but leaked photos, which had been banned, shocked even the fiercest critics.
"On this auspicious day, we want to thank you for your attendance to celebrate the romance and the beginning of our new life together," wrote Najib's daughter Nooryana Najwa and her groom Daniyar Kessikbayev in the wedding invitation cards sent to guests which included dignitaries and celebrities flown in from around the region.
"As the nature of preserving the spirit of this event, it is very appreciated if you do not upload any pictures or video of this event to Facebook, Twitter, Instagram or any other social networking site.
"Cooperation and very much appreciated your concern." - Malaysia Chronicle
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.