Malaysiakini :: Letters
Malaysiakini :: Letters |
| Posted: 02 Jun 2011 04:20 AM PDT I refer to the PM's statement that IPPs would not benefit from a power hike, as he's quoted by Malaysiakini - "It is a pass-through tariff so nobody benefits." Errr....what's "pass through"? Could someone please explain in plain English, what is this new terminology? For the life of me, it sure seems to have escaped the notice of renowned economic and financial experts; don't think you'd find it in anything that, say Paul Krugman, writes. Yeah, and you thought Najib's acronym laden programmes were too much to stomach...by the time you managed to connect the ETP to the GTP and how it's intertwined with the EPP which is then managed by the KOPI... You get the point. Now, if we could put away this seeming penchant that our PM has for acronym and terminology driven smoke screens, I'd sure like to try to make it plain and simple. Why, just a couple of days earlier, the Energy, Green Technology and Water Minister, Peter Chin took a shot at providing an explanation: "Hey folks, them subsidies, aren't really subsidies. Yes sirree....all that happened was that Petronas sold gas below market price to the IPPs and in that process, ended up foregoing RM19 billion worth of profits." Wow. Either we have a minister who is trying to buy some breathing space by confusing us; or he is pretty much confused himself. What happens when a nationalised industry, such as Petronas, decides to forego profits? It means that the RM19 billion, which was intended to be social profits for the benefit of many, ends up instead as dividends accruing to a few shareholders. Whichever way you see it, what remains is that Petronas' RM19 billion loss became the IPP's gain. Folks, if that isn't subsidy, then I don't know what is. Now, that's the real pass through - RM19 billion "passed through" the rakyat. RM19 billion's a lot, ain't it? Now, what would have happened if Petronas had actually realised that sum by selling the gas at market prices? The government's kitty would have ended up with a couple of more billion ringgits. Think we could have done some good stuff with RM19 billion? Hmmm. Well, perhaps it could have provided scholarship funds for all high achievers in school, so that we don't have to put up with the same, lame excuse of "tak cukup allocation", year-in, year-out. Gee whiz, I sure don't want to start dreaming of more hospitals, schools, better transportation system, or better pay for our civil servants so that maybe, we get to hear less of "macam mana mau settle?" And here's the icing on the cake - the government says it has got no power to make IPPs reveal the terms of contract. This, coming from the same government that has no qualms incarcerating individuals without trial....since when did commercial contract rights become more important than human rights? Mr PM, if you can authorise an on-the-spot RM15 million cheque in Sibu with "I help you, you help me" thrown in, then I am pretty sure you can bring those IPPs boys to the negotiating table. And if that doesn't work - then I'd like to recommend to you that wonderful government mechanism known as tax. Try it. You might just impress Obama. At least that's what he tried to impose on CEOs who were given huge bonuses in the aftermath of the sub-prime loans fiasco. And as for your "nobody benefits" - got a suggestion. Why don't you make public the contracts, and let the rakyat judge if anyone benefits or otherwise? Surely the days of "government knows best are over"...no? So, in plain layman's language, that is what I understand as "pass through". For the past 30 years, we had to endure much losses; according to Barry Wain, as much as US$100 billion had "passed through" the rakyat as a result of Umno's failure at governance. I don't really have to detail it; just read 'The Malaysian Maverick'. Mr PM, I sense the days are slipping further away from you, for you to make a firm and principled stand on socio-economic and governance matters that plague this country. It doesn't help that every time you appear to try and move towards progress, all that is needed are a few barks from Perkasa or Utusan and you pull back. If all our pleadings for reform continue to falter at your doorstep, then I cannot wait for the day when Umno and company are made to pass through Putrajaya after we vote them out. Full Feed Generated by Get Full RSS, sponsored by USA Best Price. |
| Posted: 02 Jun 2011 03:35 AM PDT It's a serious question. Although I fully agree that the nation in order to progress has to be weaned off subsidies, whacking the general public which is dealing with inflation and increases left-right and centre with an electricity tariff increase is just cruel, and with a coming election, downright stupid. Energy Minister Peter Chin came out to say that the government has no power to force IPPs to reveal their contracts. Don't make me and the public laugh. Are we talking about the same government? The government that can arrest and lock up opposition politicians at will, one which the Prime Minister is vicariously in control of our natural gas and oil reserves? One which billions can be disseminated to cronies and their associates? One which controls the media to a 'T' to ensure that they don't publish anything negative about the BN government, but openly endorses racism, and division? The same government which advocates People First, Performance Now? If it is indeed the same government, then I must be completely blind. As for the general public, what is the financial impact of all of these issues? Let's view our cost increases in a list as highlighted by Charles Santiago: 1. 7.12% increase in electricity tariff. On the flip side, the average salary in this country has risen by 2.6% over the past 10 years from 2000 to 2010, or a paltry 0.26% a year! This is almost akin to a Japanese savings account, where you get out less than you put in. Yes, by all means reduce subsidies, but you need to ensure that we can be a competitive economy in order to do so! What is the point of trying to sugarcoat everything when this is a classic case of mismanagement of the highest order. To use a business analogy, it is like saying, the directors screw up but the workers have to pay for it and get penalised consistently. On top of this, the workers are also the shareholders, and at the AGM, the workers are compelled to re-elect them to the board of directors because of all the past successes of our company. Doesn't make much sense. Of course, just before the AGM, the directors pay out a token bonus, buy them lunch and say that the future would be better under them. Come on people, we weren't born yesterday. At this point in time, BN has just given PR a lot more ammunition come the next general election. They hope the electorate has a short memory, but PR shall just come back and recap everything they have screwed up on. If BN wants to silence PR, it's a tall order to lock up all the politicians during the election under the Internal Security Act. Obviously, questioning the government's policies and decisions are a threat to national security. If we are to operate as a true democracy, it is the right and duty of the people and the opposition to remind the government as to what their responsibility is. Does BN want to lose the next election? I doubt so. However, it's a massive uphill climb for this government. Can they make Chin a scapegoat and sideline the Sarawak United Peoples' Party? Perhaps, considering the SUPP were caught out at the latest elections. The opposition has a really easy job. There is no need to dig up dirt when they so willingly present it to you on a silver platter. |
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