Malaysians grappling with rising costs of living, thanks to BN-Umno
Chua addressing parents and guardians of children at the PKR Back To School bag presentation in Bakri New Village.
BAKRI (Jan 5, 2013): Malaysians today are grappling with rising costs of living because of the corrupt and incompetent Umno-led Barisan Nasional government.
Johor PKR chairman Chua Jui Meng said the domino effect of the high retail price of fuel on transport costs was inflation.
“That is the reason why our sundries and other essentials are getting too expensive for the poor. Hawkers and eateries are also struggling to make their food affordable and are at the same time experiencing drastic cuts in income.
“Why must our fuel cost more than Brunei? We are also a leading oil-producing country in the world.
“What we cannot fathom out is that Malaysia is the only oil-producing country in the world that needs borrowings to keep the economy and government afloat,” he said at a PKR Back To School bag presentation here this morning.
The official federal debt figure is RM620 billion (inclusive of off Budget liabilities or sovereign guarantees for private corporations like the Port Klang Free Zone and government-linked company loans ending 2011) or 74% of Gross Domestic Product (GDP). The legislated federal debt ceiling is 55% of GDP.
However, the unofficial figure leaked out by Deputy International Trade and Industry Minister Mukhriz Mahathir and reported by TheEdge is RM800 billion.
Can Malaysians expect economic growth and progress with such unabated rising federal debt that is costing billions in interests?
Chua greeting parents and guardians of children at the PKR Back To School bag presentation in Bakri New Village.
Chua said the root cost of Malaysia’s financial woes “is because Umno is corrupt”.
“How else to explain Mahathir Mohamad’s excessive accumulation of wealth of at least more than RM132 billion (US$44 billion) during his 22-year reign as prime minister.
“How do you also explain Sarawak Chief Minister Taib Mahmud’s estimated combined family wealth of RM65 billion,” Chua said.
He said BN was clearly a party for the blatantly corrupt and the welfare of the rakyat was its least concern.
“The choice is with the rakyat in the next 13th General Election. PR has already revealed its slew of people-centric race-based free fiscal measures to reduce the financial burden of the rakyat.
“This starts with PR de facto leader Anwar Ibrahim’s promise that he would announced a drop in the retail price of fuel within 24 hours upon his swearing-in as prime minister,” Chua said.
Hello … Chua at the PKR Back To School bag presentation in Bakri New Village.