Damian S. L. Yeo & L. C. Goh (DSLY)
No. 2007, Lorong Sidang Omar, off Jalan Penghulu Abbas, Bukit Baru, Hang Tuah Jaya, 75100 Melaka

Tel : 06-2347011
& 06-2347012
Fax: 06-2347022


Tuesday, September 2, 2008

Small State with Big Debt (RM1.10 BILLION) - the Malacca Dilemma

I did said during the last general election ceramahs that the state debt to the federal government is at 2006 is RM1.05 billion. Note it's BILLION. I did also say that our state is small but having extraordinary big debt. It is definitely not a CAT (Competent Accountable and Transparency) administration.

My prediction for 2007 debt to rise is surreal. I am no prophet but base on reports from the Auditor General reports any reasonable man would be able to do a variation. A 4.3% rise or a RM1.10 billion for 2007. The debt was due to mega projects in Malacca which the Auditor General's Office had warned in their report at page 46 of the report which states (in Malay) I quote:

"Secara keseluruhannya pihak Audit berpendapat kewangan Kerajaan Negeri adalah tidak begitu kukuh dan hanya dapat menampung perbelanjaan jangka pendek. Kerajaan Negeri hendaklah mengurangkan tunggakan bayaran balik pinjamannya dan mengkaji semula pelaksanaanprojek-projek mega selaras dengan arahan Unit Perancangan Ekonomi, Jabatan Perdana Menteri. Kerajaan Negeri juga hendaklah mengelakkan perbelanjaan pembangunan yang tidak dibajetkan..."

With that in mind, the state government MUST strictly adhere to the EPU directives and not simply spend the unnecessary. With the many unnecessary "spending "projects such as the beautifying of the Malacca River (s0-called Venice of the East), Menara Berputar, Eye of Malacca, MITC projects under PKNM etc, I think there will be a time where Malaccans will continue to suffer with such unnecessary spending by our present state government.

No comments: