Friday, June 03, 2011

EPU: "Economic Plundering Unit"

Former Tenaga Nasional Berhad (TNB) Executive Chairman Tan Sri Ani Arope dubbed the Economic Planning Unit (EPU) as the "Economic Plundering Unit".

Ani Arope blames the EPU, saying the powerful agency, under the Ministry of Finance, forced TNB to sign lopsided purchase deals nearly 20 years ago.

In his Facebook posting three days ago, Ani Arope wrote: "You don’t need to go to a fanciful business school to figure out why we need a tariff hike — just revisit the terms given to some IPPs."

“With the take-or-pay clause and with the 40 per cent excess reserve that we have today, one only has to produce half of one’s capacity and be paid 80 per cent of the agreed capacity. Well done the then-EPU — Economic Plundering Unit,” he added, mocking the economic unit under the Prime Minister’s Department.

Tan Sri Ani refused to be forced, by those in power, to sign the imbalanced IPP deals and had to resign from his executive chairman post, which saw the first generation of IPPs created, such as YTL Power Services, Powertek and Malakoff during the Mahathir administration.

“TNB is the whipping boy. TNB has no control of the price it has to pay to the IPPs. Get to the source of the problem,” said Tan Sri Ani who is now in his early 80s.

The Malaysian Government announced a 7.12% hike in electricity rates in order to trim the subsidise that would otherwise double to RM21 billion this year.

But power prices will now rise by as much as 2.3 sen per kWh in areas taking TNB’s electricity supply, a potential source of public anger just ahead of a general election expected within the year.

SOURCE: The Malaysian Insider


So, who was the Finance Minister of Malaysia in 1990s? Anwar Ibrahim!

Who was the Prime Minister then? Dato' Seri Mahathir Mohamad (Now, Tun Mahathir)

Both of them cannot deny being responsible for the collaboration, though each may want to blame the other.

Surely, we can't exclude Tun Daim.

Those of us who are in the industry and who are part of the looting regime knows how it was operated. The ignorant ones must be the kampung folks.

Blame the Chinese? Hahaha ... they pay to get the loots!!! Who did they Pay? Your guess is as good as mine. Why did they pay? It was the system processes that provides the opportunities to those discriminated by the same system. Did Ibrahim Ali benefit from that system? Ask him ... he can swear; for everyone who is part of the pillaging system were all part of the fortune wheel. Did the Chinese become rich because of the system design setup? Ya!!! Thanks to Mahathir; we appreciated his NEP design and exceptional generosity while we partake. He has to continue to behave innocent and ignorant of the Golden train-ride.

There is no evidence good enough to indict anyone. You can't be guilty in law unless there is evidence beyond reasonable doubt - that is the law.

The economy is much better when Umno is the Government; not PKR, nor Pakatan, nor MCA or MIC or Gerakan. We need Umno, for Umno is beneficial to all Chinese, of which I am one.


Anonymous said...

"We need Umno, for Umno is beneficial to all Chinese, of which I am one."
Sir, are you a crony of UMNO.
I'm a Chinese but I don't get any benefit from UMNO.

Anonymous said...

There is a Chinese saying " we don't worry there is no pork to eat, but we are worried when Malay don't take MONEY"

Anonymous said...

typical of chinese thinking....