Tun Dr Mahathir Denies Meeting Sabri Is Malaysia The Next Sri Lanka
In this video here Dr Mahathir denies that he met the prime minister Ismail Sabri recently. Then he also goes on to say that Ismail Sabri has no ideas about how to manage the country and may not even know how to do work. Do listen :
Then the following two videos (not very long) by different people on YouTube discusses a few countries in South East Asia which may be going the Sri Lanka way. Countries with high debt (government borrowings) and other financial problems. Malaysia has been tagged in both these videos as a potential "Sri Lanka".
For now Malaysia may not be following in the steps of Sri Lanka. But if the wastage of resources continues unabated then that possibility is likely.
The question is when? So the government already spends 18% of every Ringgit of revenue to service debt. RM110 Billion of the RM160 Billion tax revenue is spent to pay the Civil Servants salaries. Every year the Government has to borrow because the tax revenue is about half or less of the annual Budget. So if they keep borrowing then the question is when does Malaysia become a Sri Lanka? In the next five years? 10 years?
Back to what Dr Mahathir said - the prime minister has no idea how to develop the economy. He does not even seem to know how to do work. Foreign (investors?) cannot even meet the Foreign Minister. There are complaints of having to pay money to meet the Ministers. This is what Dr M is saying. Well it was Dr M's policies that gave birth to all these duds that are now in power.
This is the real problem. The duds.
The views expressed are those of the writer and do not necessarily reflect those of MMKtT.
By Syed Akbar Ali
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