After receiving over Putrajaya, Pakatan should beginner investigations in to the malpractices as well as crimes allegedly committed by the BN.
COMMENT
People should opinion in Pakatan Rakyat to form the next sovereign supervision in the 13th ubiquitous election. Why? Because it would capacitate the elected the Pakatan supervision to examine the gross malpractices committed by the Umno-Barisan National sovereign supervision as well as the purposes in Sabah as well as Sarawak state governments from 1981 till today.
The investigations should concentration on the following malpractices as well as crimes:
1. Employees Provident Fund (EPF)
The EPF is the supervision open fund entity where the workers as well as their employers have been required to make monthly contributions to the members' life savings accounts.
Over the years, the payments made by millions of employees would apportion billions of ringgit to the savings fund.
Over the years, the EPF has been the categorical source of made at home borrowings by the sovereign government.
However, since the 1997-98 economic crisis, that hit Malaysia badly, the purpose of the EPF as the traditional primary lender changed.
It became afterwards prime apportion Dr Mahathir Mohamad's personal piggy bank as well as supports were used to bail out his associate companies that suffered huge monetary waste due to the tumble in the ringgit worth vis--vis the critical world currencies as well as the detriment in the worth of the stocks from the Kuala Lumpur Stock Exchange (KLSE) crash.
Unlike blur! b banks, bad loans will result in credit carry out or freeze; for the EPF, the income inflows from the employees as well as employers' contributions as well as income outflows from their withdrawals as well as loans taken by the supervision have been the successive non-stop process.
In other words, supports used up have been invariably replenished by the inflows.
Hence some supports can be siphoned out by the manipulation of the outflows by those entrusted to conduct the fund, though replenished by the members' contributions, thereby creation it to crop up that the sum supports is growing or during slightest maintained during constant level. It gives the impression that there is no abuse of funds.
So how most essentially is the sum outflows as well as how have been the supports utilised, especially those related to supervision borrowings for open investments/expenditures as well as for bailout purposes?
These contribution have been not suggested by the stream BN government.
As I have explained in my earlier articles on the national debt, the estimable apportionment of the sovereign bill necessity is financed by borrowings from EPF, that is used to cover the price of paying associate companies by the rarely inflated prices of supervision projects awarded but the open proposal system.
Hence it is critical that Pakatan be voted in as the next sovereign supervision to capacitate them to examine the extent as well as purposes of the tangible supports taken out by the sovereign supervision from the EPF vis--vis the official figures.
The investigation will capacitate the open to know how most income is essentially lent out as well as abused as well as the tangible balance of the fund remaining.
2. Petronas
Petronas as the national inorganic substance house has earned billions of US dollars from the made at home as well as overseas operations. How most of Petronas' overseas tangi! ble gain have been not revealed?
We hold part of the corporate gain have been diverted to benefit those in the corridors of power.
3. Bank Negara
The Pakatan supervision should get to the bottom of the monetary waste suffered by Bank Negara for regulating the unfamiliar pot in conjecture activities in the London unfamiliar sell (forex) market duirng 1992-93 on the gauge of Mahathir.
Mahathir gambled away billions of Bank Negara's scarce unfamiliar sell to buy the British pound with the idea that the currency would rise, though instead the sterling fell when the British supervision voiced the devaluation of the currency.
The tangible volume of losses, in billions of US dollars, suffered by Bank Negara was never suggested by the government.
4. Mahathir's mega economics
Under Mahathir's mega economic models, projects were awarded directly to cronies as well as henchmen.
Sarawak Chief Minister Taib Mahmud, though he is utterly independent of sovereign supervision control, had to share his ill-gotten resources with Mahathir as the form of insurance money.
Here it was the box of "win-win" in corruption, the personal intrigue engineered in between the two.
It is thus impending that the Pakatan supervision examine the volume of illicit income allegedly involving the duo.
All Mahathir longed for was for most of the income from Sarawak's oil, gas, income as well as etiquette taxes worth billions of ringgit to flow in to the sovereign coffers.
In exchange, he authorised Taib to have complete carry out of the state. Whatever the problems were in between Taib as well as his people, Mahathir didn't give the damn.
Mahathir preferred to see that the Sarawak as well as Sabah people remained poor as well as ignorant so that he could continue to try by artful means to get their wealth, progress his sovereign supervisio! n coffer s as well as later abuse these funds.
5. State projects
The list of sovereign as well as Sarawak state projects that had been awarded but open proposal as well as who benefited from them.
6. National debts
The need to examine the causes of the escalating national debt.
7. "Double Six" tragedy
Pakatan contingency examine the cause of the "Double Six" tragedy on Jun 6, 1976, near Kota Kinabalu airport.
Eleven people were killed in the air crash. Among them were afterwards Sabah chief apportion Fuad Stephens as well as multiform state cupboard members.
At that time Mahathir was the emissary prime minister. Then prime apportion Hussein Onn was an honest as well as clean man.
The strange oil kingship understanding that was agreed on for Sabah was 20%, though following the untimely crash, the strange oil-sharing agreement was changed with the brand new agreement, that gave Sabah the share of usually 5% of oil royalty.
Sabahans should opinion for the Pakatan supervision to capacitate it to examine the cause of the collision as well as the designer at the back of the whole thing.
Awang Abdillah is the political analyst, writer as well as FMT columnist.
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