RM7Billion…..Are You Stimulated Already?
Posted by ErnieJean on November 6, 2008
OK, I really don’t blame the Pakatan Rakyat’s MPs…….I’m pretty confused myself…….
This RM7billion Economic Stimulus Package thingy just announced by our new Finance Minister, is actually extra money derived from the savings of reduced fuel subsidy, not part of next year’s budget and hence, will need not be debated in Parliament because it’s at the prerogative of the Finance Minister ?????
But then again, doesn’t this extra savings belong to the rakyat too?
Don’t we have a say in how it should be spent?
And if there were no threats of recession looming over our heads, what was the government planning to do with those savings? Keep quiet and stash in some FD account?
Let’s refresh our memory with what some of these additional measures are :
1) 1.2 billion for construction of 15,000 low-cost and medium-cost housing.
I have a problemm with this one, in particular…..sounds really fishy.
When questioned why so much were allocated to the construction sector where it seemed to be favouring the contractors rather than majority of the nation, Najib replied
“….will provide benefits all the way down to the consumer. When we give to the construction sector, we build houses. We build low and medium cost houses, including 12,000 units under the Hardcore Poor Assistance Programme.
“Surely the hardcore poor will benefit and secondly, small contractors at district level will also benefit,” he said.
Erm, excuse me, but where are the poor going to get the funds to buy these houses which you say will help stimulate domestic spending? From the pathetic 3% cut from EPF contribution? How many hardcore poor folks who qualify for the low cost housing scheme actually have an EPF account in the first place?
As it is, there are already so many deserted low cost houses all over the country…….clearly a combination of the poor not being able to afford one in the first place and an indication of the government building without planning. So, wouldn’t it be better to allocate some of these funds to help the poor buy up the existing empty low cost units?
And another thing, this 1.2billion is going to be parked under Syarikat Perumahan Negara Berhad and the Housing and Local Government Ministry. Anyone want to take a wild guess as to what the criterias are for contractors who want to bid and be awarded these projects? Crony UMNO contractors, perhaps? So, how does that benefit 99% of the nation when only a small group gets the bulk of the money eventually?
2) RM500million for repair works to upgrade and maintain existing police stations, living quarters, army camps and quarters.
Yea yea……..more like a “damage control” to repair the shitty and poorly constructed buildings by the crony contractors who should have been made to be responsible for their poor workmanship instead of allowing them to get away scot free.
3) RM600million for minor infrastructure works including maintenance to village roads, community halls, bridges.
Does that mean we’ll see badly re-surfaced tarred roads that will still need constant patching up, so as to make full use of the allocation?
By the way, I really hope that includes the patching up of the pothole-ridden Federal Highway, yar?
4) RM500million for repair and maintenance of public amenities such as roads, schools, hospitals, etc
5) RM500million to build and upgrade roads in rural areas, villages and agricultural farms, including Sabah and Sarawak.
Wait, you mean the other allocations did not include the East Malaysians!!???
Seriously, I just don’t see anything how this Economic Stimulus Package will benefit any of us, save for the Class F Contractors.
OK, in all fairness, I’m very sure this RM7billion will stimulate something, just not too sure it’s our economy. 😛
Wonder what or who will be the most stimulated……………..HHhhhhhmmmmmmmm