FELDA THE NEXT BIG NAJIB BLACK HOLE – MAYBE EVEN MORE MORE WAS STOLEN HERE THAN FROM 1MDB, SO WHY IS MAHATHIR PULLING HIS PUNCHES?: 10 PROMISES IN 100 DAYS – 4 DONE, 6 TO GO

IN a little more than a month since Pakatan Harapan took over Putrajaya, the new government has kept four out of the 10 promises made before the 14th general election as its 100-day pledge.A few other promises were fulfilled partially or announcements have been made while some are on hold until the country’s financial health improved.

A promise fulfilled was zero-rating the goods and services tax (GST), which the PH government achieved on June 1.

It still has to rescind the law, as Parliament only sits on July 16, but zero-rating the GST effectively scrapped the consumer tax altogether. 

Another pledge was to reopen investigations into the multi-billion-ringgit theft at state investor 1Malaysia Development Bhd.

PH’s has also promised to set up royal commissions of inquiry to investigate other scandal-plagued entities, such as Felda, Mara and Tabung Haji.

But there has been no news of any RCI, not even into 1MDB, although investigations into the state investor founded by former prime minister Najib Razak are in full swing.

The third pledge it has fulfilled partly was to review mega-projects, such as the high-speed rail (HSR) project between Kuala Lumpur and Singapore, East Coast Rail Link (ECRL) and Mass Rapid Transit 3 (MRT3).

While MRT3 has been cancelled, the others are still being reviewed as work on the ECRL has reached 20% completion while HSR involves contractual obligations with Singapore.

The government is also on the way towards providing EPF for homemakers after it instructed the fund to prepare for the additional 2% deduction from working spouses.

On fuel subsidies, the PH government has not made progress although it has stabilised the retail price of RON95 petrol at RM2.20 and diesel at RM2.18 per litre, while floating the price for RON 97.

Other promises, such as writing off Felda and student loans from the National Higher Education Loan Fund (PTPTN), raising minimum wage to RM1,500, Malaysia Agreement and health scheme for the B40 income group are still being studied.

The fulfilment of these promises will depend on how the government manages its finances as it undertakes cost-cutting measures and looks for new revenue sources.

Dr Mahathir Mohamad’s three-day working visit to Japan, his first as prime minister after PH won the elections, tied in with the government’s fiscal management.

In Japan, he was able to get Shinzo Abe’s government to consider helping Malaysia refinance its debts with yen credits, while also reviving the “Look East” policy which will pave the way for more Japanese investments and collaboration.

– https://www.themalaysianinsight.com/