Najib hits back at Dr Mahathir

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Picture Credit: Najib Razak Facebook
 

Najib Razak, the embattled former PM of Malaysia hit back at PM Dr Mahathir Mohamad and Lim Guan Eng, the Finance Minister.

Najib questioned the recent announcement by Dr Mahathir that the government’s debt to the GDP is now 65%, asking whether it was a political narrative or based on facts.

He seems to advise the new government not to go into a political narrative, saying the figure of the debt of RM1 trillion that Dr Mahathir said is without giving any details.

“Without any details of what you mean will just unsettle the financial markets, alarm the credit rating agencies and investors confidence in our institutions such as our Bank Negara Malaysia,” wrote Najib in a Facebook posting.

The post appeared yesterday and has since then received thousands of likes but also thousands of negative comments.

He said the Bursa Malaysia index fell as “a result of these alarming and confusing statements from Dr Mahathir.”

Bursa’s index fell 40.78 points today or 2.21% while the Indonesian stock index added 0.71% yesterday.

Najib quoted the business news-portal The EdgeMarkets which said this sharp fall in our share market was contributed by concern on our public debt.

“Surely this fall would affect our funds such as EPF and PNB and could lower the dividend rates for its members for the year.”

He also lambasted Dr Mahathir on statements that Malaysia should not worry about “our country’s sovereign credit ratings being downgraded will result in further rocking the confidence in our institutions.”

Najib was fearful of any downgrade of Malaysia’s rating.

He focused his electoral campaign on what he called his achievements – that is stable ratings from the international rating agencies – and the massive expenditures in the rail and road sectors.

However, Azmin Ali, the new Economic Minister said mega projects by the previous Barisan Nasional government had contributed to the “almost RM1 trillion national debt.”

Azmin said the amount had set off a major alarm in the new Pakatan Harapan government.

“We have to look at the details on what contributed to this huge debt of almost RM1 trillion.

“Part of it was because the processes were not open, not transparent and most (mega) projects were off-budget. It was not under or part of the national budget,” he said.

Najib warned the Pakatan regime that while they may want to slander and “put all the blame on me to give a perception of a dire financial position to justify why you cannot deliver on your manifesto promises” and to massively cut the civil service, they must remember that the country and our people come first.

“You can also issue misleading statements on 1MDB or tell half the story about it to blame me but the time to play politics is over.”

Dr Mahathir is yet to respond to Najib’s missive on the economic situation of the country.

But yesterday, Dr Mahathir made public his to-do list: cut costs, rein in US$252 billion debt and review the MH370 search contract.

The new Prime Minister is moving swiftly to stabilise the nation’s finances.

While Najib accused Dr Mahathir of cutting job in the civil service to salvage Pakatan’s electoral promises, the new PM is not budging in cutting thousands of government workers jobs.

State agencies will be dissolved and some projects could be aborted as Mahathir moves to cut the national debt of 1 trillion ringgit (US$251 billion).

14 COMMENTS

  1. During yur ducking time najib, you blasted the rakyat hard earn money, did u tell yur yourself enough?! Now u want facts from Tun Dr M/ Guan Eng. Most suitably, u cooperate with the MACC telling how u misuse and stolen billions of ringgit went to..the facts.

  2. May 24, 2018
    A FACEBOOK RESPONSE TO MALAYSIA’S EX-PM MR. NAJIB RAZAK’S TEN-POINT GRIPE — A RESPONSE HE READILY CENSORED
    (As posted on Malaysia’s former PM’s Fb page May 24 which he immediately deleted; apparently he doesn’t believe in free speech!)

    Dear ex-PM Najib, here’s my point-by-point comeback to your above 10-point ‘Political narrative or facts’.

    1. Indeed, it behooves those who are speaking ex cathedra, to speak truth to power and get the facts out in the open without fear or favor.

    2. You are not implying that the financial charade and bamboozling under your watch should just go on in order to placate the financial institutions lest there be a market melt-down. You know the chickens are coming home to roost, all in due course — Mr. Najib, you of all people, should twig that better than anyone else…

  3. May 24, 2018

    A FACEBOOK RESPONSE TO MALAYSIA’S EX-PM NAJIB RAZAK’S TEN-POINT GRIPE — A RESPONSE HE UNHESITATINGLY CENSORED

    (As posted on Malaysia’s former PM’s Fb page May 24 which he immediately deleted; apparently he doesn’t believe in free speech!)

    Dear ex-PM Najib, here’s my point-by-point comeback to your above 10-point gripe, namely, ‘Political narrative or facts’ (appended at the end of this response).

    1. Indeed, it behooves gov. officials who are speaking ex cathedra, to speak truth to power and get the facts out in the open without fear or favor.

    2. You are not implying that the financial charade and bamboozling under your watch should just go on in order to placate the financial institutions lest there be a market melt-down. You know the chickens are coming home to roost, all in due course — Mr. Najib, you of all people, should twig that better than anyone else.

    3. How ironic of you to even highlight the word ‘credibility’, … you should be the last person on earth to be calling the kettle black with regard to believability/factuality.

    4. You bemoan the Bursa index has lost 2.21% the previous day on the heels of ministerial warnings of how severely aberrant is the state of the nation’s bookkeeping during your governance. Well, Mr. Najib, you should brace yourself for the rollicking times ahead when the floodgates of truth in accounting are fully swung open for all to see.

    5. You point to the skittishness of institutional investors reacting to the hitherto unknown national debt figures which The Edge Market news website attributes to the accompanying market tumble; indeed, that’s just a foretaste of what is expected to come when the day of reckoning arrives…
    https://lester978.wordpress.com/2018/05/24/a-facebook-response-to-malaysias-ex-pm-mr-najib-razaks-ten-point-gripe-a-response-he-readily-censored/