13 September, 2007

Malpractice in Finance is a good indication of where our economy is heading to.


Distribution of wealth has always (well sort of) been given priority in RMKs. Although the major portion of any government projects are given to Bumis still somehow some will trickle down to other races knowing that some Bumis will just want to sit and do nothing with the awarded contracts and "sell" it to non-Bumis. Well that is still ok because the job gets done anyway and the inflation of cost is still permissible.

What about those government interest mega budget projects? The Port Klang Free Zone and the Military ships of the Ministry of Defence? Now the cost is not your run of the mill millions. Over the years of not honouring agreements and delays the inflation of costs has rose to a giddy tune of millions and even billions of Ringgit.

Now let think here a bit. Government money is our money they got from taxes. Yes it seems like the recent Budget 2008 seems sensible enough but seriously if wastage is just going to throw a major total of it away I might as well just put my life in the hands of Ah Long. Their interest rates are as exorbitant as the inflation of costs of these mega projects.

Now after audit we are all made to look like idiots when there is a lot of expenses that are not soundly reported by the ministries and their ministers. So in totally good spirit (actually not but since it is Ramadhan I have to be nice) what on earth is going on?

For all the inflated cost over the time wasted for improper project management as well as perhaps some scoundrels who might have licked a few Ringgit her and there imagine what that amount of money can do if it was used for eradicating poverty, improving education facilities, push for better anti-smoking or pollution campaign and even research grants to local universities to conduct beneficial studies and research for the betterment of the country as a whole.

But now what? Just answering the questions is sufficient? What about the rakyat's money used? Can get refund or not? When we pay taxes late we get a nice royal letter "Urusan Yang Dipertuan Agong". Or some court letter telling us to pay up or our stuff kena lelong or some shit like that. So when a minister and his or her ministry misuse public funds what happens? Investigation only? No jail sentence? Whipping? Expulsion from state?






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