Cheers from Pakatan Rakyat on statement made by Tun Musa Hitam saying that PR would never intentionally bring the country to a bankruptcy, is still going around. For PR, those words are their motivation after being unable to push aside facts and figures presented by the government showing how the country would fall to a bankrupt if the contents in their Buku Jingga are implemented.
Meanwhile, PR’s latest Manifesto is expected to cause increased deficit to 11.5% GDP compared to BN’s 4.0% and debt will increase to 62.1% GDP compared to BN 54.6%. This statement is made after considering all sweet promises made by PR, added with the figures of income and expenses, including the estimate the potential and risks of the current situation in the country as well as global.
With that, we concluded that the only way for PR to not bankrupt the country is by making a revamp on Buku Jingga as well as throwing away their manifesto if they do win the next election. In other words, they are just liars.
This would definitely mean that they need to make a new budget without including the promises they made.
However, this does not mean that their new budget would guarantee good economy, especially with the bad record of ‘PR’ Prime Minister’ in terms of economy.
To see this clearly, we need to refer to the current financial position in Selangor during BN’s era back in 2003 – 2007: In 2003, financial position in Selangor was at RM325.38 million, 2004 – RM427.64 million, and it increased in 2006 to RM565.47 million and until 2007, it was at RM738.05 million.
However, in 2008, when PKR took over and Anwar Ibrahim became the economic advisor for Selangor, the financial position for the state recorded declining trend as follows: 2007 – RM776.44 million, 2008 – RM733.64 million, 2009 – RM617.20 million and in 2011 to RM390.89 million.
The figures above is based on Report of the Auditor General for Selangor on the year.
If this is not enough to prove how incompetent Anwar Ibrahim is in managing economy, we should see his performance while he handled financial crisis back when he was Finance Minister in 1997:
Under Anwar, Malaysia stock market from February 1997 which was at 1300 points declined uncontrollably until July 1998, Malaysia stock market was at its lowest with 261.33.
When Anwar was sacked on September 2, 1998, and Tun Mahathir took over as Finance Minister, he remodelled Anwar’s plans to apply IMF’s strategy as well as introduced new strategy.
The result, Malaysia stock market had a swift recovery where by the end of September 1998, soon after Anwar was sacked, the stock market showed immediate increase to 400 points and it recovers slowly where in early 2000, the stock market was at 980 points.
As another comparison, Dato’ Seri Najib Tun Razak also took over the post of Finance Minister during the economic crisis on September 17, 2008. he struggled with the declining stock market at first, up until the end of the year, with 801.27 points. In Early 2009, perhaps he managed to get to the ‘momentum’, presented a mini budget worth RM60 billion.
The situation looks promising that he was then appointed as Prime Minister on April 3, 2009. Then, Malaysia stock market showed consistent increase that by the end of 2012, it was recorded at its highest, 1699.68 points.
It is clear that wise leadership could restore any issues even during crisis and when people see it as something impossible. However, incompetent leadership such as Anwar Ibrahim, will only add more crisis and it could lead the country towards destruction, poverty and bankruptcy.
Imagine, if Anwar Ibrahim took over the country in 2008, during the global economic crisis, wouldn’t he lead us to the same road he led us during 1997 crisis? And just imagine if he wins this coming election and become the Prime Minister, what is the guarantee that he would not lead us to the same road Selangor is going through today?
Imagine if another economic crisis hits, what would happen to Malaysia, to us, if this country is led by incompetent leader who does not know anything about the economy such as Anwar Ibrahim?
Fact is, Anwar Ibrahim is a Malay Education graduate, a graduate of literature who often play with words. This means, Anwar is not a person who masters his left-brain, the side where one could analyse of see through math logic which is needed to understand economy. Anwar is a man overpowered by the right side of the brain, everything is art-sy, abstract and free in expressing himself and he is emotional.
The country would definitely be in danger is its Prime Minister sees figures as poem and can be changed just like that. And we are yet to consider the risks of Anwar changing those numbers to be put into his personal account, and his family’s account, or his maters, scandals, friends, and those who holds his darkest secrets.
Thus, Tun Musa’s statement saying that PR will never lead this country towards bankruptcy is not that correct. The correct statement would be, PR leaders will never be bankrupt, but the probability of them leading this country to a bankruptcy is huge and it cannot be taken lightly.
The country’s economy is not something which we could gamble on. It needs specific intelligence which people like Anwar can never be able to process.