Sunday, March 12, 2006

Fuel Hike Not for MAS Bailout?

Pak Lah assured the savings of $4.4 billion will not be used to bailout MAS.

So, what and which money will be used to bailout MAS?

From: Left pocket or right pocket, which pocket?

Whatever it is, billions are needed to bailout MAS and it has to come from taxpayers money; whichever pocket it was taken.

DPM Najib said the savings will be put into a trust fund managed by the Cabinet committee for improvement of public transport?

I am a bit puzzled. During Mahathir's tenure, he never had this problem. The govt of his time can built North-South Highway, East-West Highway, East-Coast Highway, NKVE, Putrajaya and Cyberjaya, KLIA, KLCC, Double-track railway and there was no need for taxing taxpayers heavily and setting up a trust fund to manage it. Mahathir took monies from taxes and duties collected, and from Petronas. There were still plenty for the ministers pocket. Two years after he abdicated, there were no development projects sizeable to sustain the bumiputera contractors, and fuel prices had increased four times, electricity tariff hike soon, water tariff hike soon, sewerage tariff hike coming, town councils and city councils are raising assessement taxes and quit rents, ministers have less to pocket, and ... a new coterie from a new oligarchy had emerged ... and everyone is awed by the new kingmaker's speed to wealthdom ... let's watch further development!!!!

1 comment:

Howsy said...

Call it anything else except bailout, o.k.!