Minister says Dr Mahathir Mohamad has made allegations that Najib Razak sabotaged the country’s banking and finance system but fails to explain how.
PETALING JAYA: Dr Mahathir Mohamad has made serious allegations that Prime Minister Najib Razak has sabotaged the country’s banking and finance systems but has failed to offer any solid explanation as to how this was achieved, said Salleh Said Keruak.
In his latest blog entry today, the minister of Communications and Multimedia also poked holes in Mahathir’s numerous other arguments against Najib in regard to 1Malaysia Development Berhad (1MDB), and drew parallels to how the country was managed when he himself was prime minister.
Quoting Mahathir’s argument that if 1MDB had not been created, there would not have been any need to borrow RM42 billion, Salleh argued that if all multi-million ringgit businesses were self-sufficient, all banks in the country would close down.
He cited how even the PLUS North-South Highway, like 1MDB, had to borrow from banks to construct the network of roads, then charged motorists toll and asked, “And did not Perwaja, a company that failed (during Mahathir’s time as PM), also need to borrow large sums of money?”
Salleh also thrashed Mahathir’s allegation that 1MDB purchased land cheap and made a profit by arguing that it was natural that undeveloped land would be cheaper than parcels of land that already had planning approvals or ready infrastructure on it.
“For example, even Petronas got land cheap in Paka, Terengganu, but after developing that land it is now worth thousands of times more what the land originally cost.”
He reminded Mahathir that 1MDB had not only tabled in June, but got the go-ahead from Parliament to execute its rationalisation and debt reduction plan but that everything had ground to a halt when the Special Task Force confiscated all 1MDB’s documents thereby delaying any effort to turn the business around as planned.
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