MAHATHIR STILL TRYING TO BUY TIME FOR HIS CRONIES? ‘STOP LYING & CHEATING TO THE PEOPLE’ – NOW THAT YOU CAN’T SELL PLUS, REDUCING TOLL RATES BY 18% BUT MAKING THE PEOPLE PAY FOR ANOTHER 20 YEARS IS JUST ANOTHER SCAM – NO DIFFERENT FROM NAJIB-JHO LOW’S 1MDB

Pengurusan Ekonomi Style Kuda Liar – Dr Mahathir Lanjutkan Toll 18 + 20 Tahun Lagi !!

I really could not believe my eyes when I read this in The Star today. 

 

Cabinet decided not to sell PLUS to any bidders, not attractive enough, says Dr M

“We have studied all bids and by Khazanah Nasional.

“We decided best way is not to sell PLUS to anybody

keep it with Khazanah and EPF  he saidDr M said PLUS would be given 20-year extension of toll concession

(OSTB : Huh!! Why?? Why burden the people with another 18 years + 20 years = 38 years of paying toll?) 

He added people need not worry about 20-year extension of toll 
reduced flat rate, when compared against future ringgit rates, will be minimal.

“PLUS have to reduce toll by 18%, but remember, 18% is set at today’s rate

20 ys’ time, 18% when compared with ringgit rate then will not be very high

value and purchasing power of ringgit will go down

so what PLUS earn afterwards (in 20 years) is not as big as people think 

because we are looking at it at the present rate

it will be a flat rate minus 18%, said Dr Mahathir 

(OSTB : Huh ?? What type of logic is this?  

Why should people worry about PLUS’s future earnings? 

The people are worried about their own purchasing power. 

Who cares about PLUS.)

‘when compared against future ringgit rates’?  

(OSTB : This is an illogical statement. 

What is Dr Mahathir trying to say here? 

What future Ringgit rates? 

Ringgit rates against what? 

 

If Dr Mahathir is talking about the Ringgit’s value, well we do not even know what will be the Ringgit’s value tomorrow. 

How does Dr Mahathir know the value of the Ringgit 20 years or 38 years from now?

.
And please tell us in which economics or management text book did Dr Mahathir get this strange idea?  

.
“when compared against future ringgit rates’?”  
.
I say, ini teori ekonomi ikut kepala hotak siapa pula? 
Propesor Emeritus Kang bin Kung?)

.
value and purchasing power of ringgit will go down

so what PLUS earn afterwards (in 20 years) is not as big as people think

(OSTB : Huh? I say kawan, if the value and purchasing power of the Ringgit goes down so will the purchasing power of the people. 

This means the people will feel a bigger and bigger pinch when they have to keep paying tolls for 38 more years. 

Lower purchasing power means the people will see an even bigger hole in their pocket.

The people do not care whether PLUS’ earnings will be big or small. 

The people only care what their own earnings and purchasing power will be. 

Plus the fact that they have to keep paying tolls forever.)

Conclusion :

This so called solution is not a solution at all.  

In fact it only burdens the people more. 
Once again Dr Mahathir is also trying to cheat the simple people
Especially the Malays who Dr Mahathir knows very well do not know how to calculate things or understand business and economics. 
Dr Mahathir is once again taking advantage of the Malay peoples’ ignorance of such simple matters.

Here is a simple apple and apple comparison.

Dr Mahathir suggests to reduce the toll by 18%.  

WRONG. This is NOT a reduction. 

Why is this NOT a reduction ?

Because the TOLL CONCESSION is being extended – by an extra 20 YEARS.

So the people are going to end up paying even more toll. 

Here is something else. The TOLL will be reduced 18%.

But the concession is being INCREASED by 111% .  
20 yr extension / 18 yrs remaining  x 100% = 111%.

 

By simple logic, after pretending to reduce the TOLL by 18% but you want to kaut balik that 18% reduction through a longer concession period,  then you should only extend the toll concession period also by 18%.  

 

That means 18% x 18 yrs remaining = 3.24 years extra only.

So 18yrs + 3.24 yrs = 21.24 yrs only extended toll period. 

An extra 3.24 years extension only.

How in the name of Putrajaya did Dr Mahathir get that 20 year extension?
I say kawan, itu 20 tahun extra mana mari? 
Macam mana kira lah?

 

This is called ‘Pengurusan Ekonomi Style Kuda Liar’. 

 

You cannot find this type of economic theory or business management in any textbook anywhere in the world. 

 

Except maybe  Buku Ekonomi Kapten Blackbeard – Penyamun Unggul Laut Carribean.

 

 

My suggestion :

 

Priority No 1 Option.  Issue those 18 year Highway Bonds (say for RM35 billion). Settle all of PLUS debts, buy out EPF and KNB. Wind up PLUS. Abolish all tolls. Pay off the Highway bonds from taxpayers funds over the next 18 years, 20 years etc.  

2nd option not so good :  Reduce the toll by at least 30% with NO MORE INCREMENT IN TOLL, NO EXTENSION of the remaining 18 years concession period (ie until 2038) AND NO COMPENSATION PAYMENTS TO EPF OR KNB.

 

3rd option even less exciting :  The do nothing option.  Don’t do anything. Just let the people suffer until the toll expires in 2038. 

The only silver lining is that under option 2 and 3, the people will kick out the Pakatan Haprak government in the next GE in 2023 (three years from now).

The people have paid enough tolls for the past 35 years. 

Enough is enough.  

Dr Mahathir you should really stop cheating and lying to the people.

http://syedsoutsidethebox.blogspot.com/