Pakatan Harapan goes into debt: Hiding anything or playing tricks?

MCA Penang State Organising Secretary cum Bagan Division Secretary Dr Tan Chuan Hong today called into question the truth of the Penang State government for borrowing funds from a foreign financial institution to finance projects for the “ Penang Transportation Master Plan”. He also expressed his disquiet on the facts that the Penang State government may wish to hide.

Dr Tan also satirized the state government in the issue of “lending money to the federal government” to allow the federal government to allocate funds for Chinese primary schools in Penang earlier this year. Now is the turn for the state government to go into debts to carry out the mega projects under the “Penang Transportation Master Plan”.

In fact,  the so called master plan is still an empty talk. How tricky is the state government and what are the facts hidden behind?

Again, Dr Tan questioned the state government,  inquiring if the master plan is mostly just a myth and it only serves the purpose of fishing for votes in the coming election.

Based on experience before the 2013 general election,  the DAP-led state government also proposed that the undersea tunnel and lands had been given out and developers have even started reclamation works.

Years from now, we will still be wondering whether if Penangites  will have the undersea tunnel or the third Penang Bridge. The debates are still hot and now one thing for sure is the gainers are those developers and maybe some others who were aware ie the state Exco.

There are 2 Exco members and Chief Minister holds the Bagan Parliament constituency but the rakyat now can see clearly that the Jalan Raja Uda widening works still have yet to be completed despite 9 years since DAP took over Penang in 2008. A less than 4 KM road widening works also has so many obstacles, such as in the month of February,  a street light collapsed because of the poor construction standard of the ground foundation. The foundation should be deep in the ground of 4ft but the state government appointed a contractor dig  2ft only. This in fact is a Tofu Project (sub-standard construction works).

Bagan residents are losing confidence and very worried now since the DAP government boasted and exaggerated that the state government will take up a bank loan to build the cable cars and even LRT connecting Jalan Raja Uda and Penang Island.

Based on the track record of this “CAT ” government especially in handling road  widening works,  we give the absolute “ thumb down ” this time.

Dr Tan once again expressed his doubts because the CM had announced before that the state allowed the developers to reclaim the land to build 3 man-made islands in exchange for funding for the transportation master plan’s projects but after the state assembly meeting recently, here comes another alternative for funding which is building debts to pay for the insufficient parts of the projects' costs.

Is there any more darkness that cannot be disclosed? Will there be any benefits going into the pocket?

Normally the banks' lending rates will be higher than government issued bonds and securities. The PH government is totally not sincere and playing dirty tactics on this issue. They keep on attacking the federal government for becoming impoverished very soon and now they are proposing for loans. If they are so capable in managing the state's wealth, why should they take up loans? An example is the previous Kedah PR state government. They took up a loan of RM 350 million to build an Islamic international university during their term of 2008-2013. And now, the BN Kedah state government needs to pay for the banks' loan and interests. A disgrace and a burden for the present BN state government.

-The Star-