Tuesday, October 26, 2010

Auditor General's Report

Finally the Auditor General’s report is released.

Guess what??? No more wasteful spending??? Just surf the net for data on budgets of certain departments or renovation costs for certain buildings and u can start shaking ur head sans Beatles music!!

According to it (AG), Malaysia’s national debt for 2009 rose to RM362.39 billion or 53.7 per cent of GDP, its highest level in five years. It was the first time the debt to GDP ratio had breached the 50 per cent mark.
This contrast with what our Prime Minister Datuk Seri Najib Razak’s reply in Parliament in June that Malaysia’s total debt had been reduced in 2009 to RM233.92 billion from RM236.18 billion in 2008 and he had also said that the debt to GDP ratio for 2009 was only 34.3 per cent, up from 31.9 per cent in 2008.

So this can bring the question, why are the AG's numbers different from the PM's numbers?

The Auditor-General has criticised the abuse of the first economic stimulus package (ESP) funds, citing as example the upgrading of the VVIP room at the Langkawi Naval Headquarters Region 3 (Mawilla 3) with RM301,900 worth of chandeliers, home-theatre systems, fancy wall paper and other luxuries.

Other abuses and wastages of the ESP found in the A-G's audit report tabled in Parliament today include RM459,460 for decorative outdoor lighting for the Lumut Naval Base and RM144,118 to renovate an existing canteen that was in good condition with new White Horse tiles, plaster ceilings and cornices.

And of coz so many more if u want to list it. It sure looks like a lot of stimulation here. Dangdut, massage and makan

Year in and year out, the A-G's Report lists incidents of poor management of funds and abuse are listed over a few hundred pages in the report and together with other concerned citizens, I am awaiting the latest report to see how the ministries and government agencies manage their budget and spend public money - our money!

And u know what so funny about this?

Every year abuses were reported in each year auditor general report but No Further Action is taken (NFA). This is the biggest joke and the AG could lose his job. Good luck from me.

Who listens to the Auditor-General's Reports and takes the necessary action to resolve the problems highlighted? Ops, nobody!

This is what we call as plundering in broad daylight because I believe the above is only the tip of the iceberg.

One must wonder what a 100% detailed checking on the use of ESP funds would reveal. But the above account already gave a grim prognosis of the whole stimulus package, and how it was abused and manipulated by rent seekers and interest parties. 

The siphons must have been working happily on the ESP fund chest. No wonder there are no multiplier effects felt down where it matters. No wonder most Malaysians remain low-income earners, making one wonders about the "soon-to-be" built 100-storey tower which is said to have similar "multiplier effects" on the economy as well. Shall we take that? 

Just how do we ordinary Malaysians get to have a hand on the ESP funds to make us high income earners too? No wonder there are already some Very High Income Earners, VHIE, while we are still slogging to make ends meet.

So what's going to happen now with the massive spending in infrastructure? When u spend the money on a 100 storey building, u need people, business activity and rental income to pay for it. A building on its own is dead intellectually and needs human input to make it profitable. 

On the other hand, when u spend that money for education, u create brain power that can generate income directly. And that is clearly much better than build a 100-storey building. Why are our politicians so stupid?

Look like what Idris Jala said got some truth as by 2019 our country will be going bankrupt - only thing he told was mainly due to subsidies but actually too many leakages in the system.

At the rate of our government are spending the rakyats' money and siphoning large amounts into crony accounts through mega-projects, it is not impossible Malaysia will be following Greece and Spain into bankruptcy even before 2019. 

And worst we might even join Zimbabwe, where we need twenty million ringgit to buy a fresh chicken. But don’t worry, the plus sign would be that every Malaysian would be carrying billion-ringgit notes in their purses!



Finally, I applaud the Auditor General for continuing to expose these serious malpractices and wrongdoings. The auditor general spends vast amount of time and funds in preparing the reports. However when it is released, there is a little ripple here and there showing disgust at the wastage, after which all settles down like normal. The MACC has spent so much of time and money on Chicken feed cases which has a political biasness. Where are they in dealing with all these? These are running into mega bucks.

So please stop this. For goodness sake take action against the culprits who abused the funds! 

If such offences had been committed in China, these people
will be sentenced to death with a bullet in the head plus the cost of the bullet is charged to the family of the deceased. How about here in Malaysia?

5 comments: said...

i like reading your thoughts but please write some more. thanks.

Anonymous said...

You're good. I wonder how old are you?

ika~~ said...

love ur writing..
neway thx 4 following me *blushing*

cekotet . said...


Act Now! said...

Cool, we have had crooks running our country since forever.

While the superclass of governments and cronies drank and wined, the underclass of slaves could only wank and whine.

Now what? What do slaves do?
Check out what slaves can and MUST DO in this link.


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