Thursday, January 22, 2009

ANG POW: RM5 Billion (From Stimulus Package) of Wealth Transferred

Well, less 20% over the KT Bye-Election! This is one job all the Ministries are good at. Maybe only about 2.5 % will trickle down to the kampung folks.

But what about the economy? Well, this is "the Economy"!

"...RM7 billion from the first stimulus package, RM5 billion had been transferred to the various operating ministries and agencies.

Najib, who is also Finance Minister said, another RM2 billion would be transferred by next week.

"The entire RM7 billion will thus be in the hands of the ministries and agencies and they have to take immediate action," he told reporters after chairing the National Drug Eradication Action Council meeting here, Thursday.

Asked as to the timing of the announcement on the second stimulus package, he said the government would decide on that.

"At this stage, we want to ensure the RM7 billion is expanded quickly. We have instructed all operating ministries to take immediate action, " he said.

On Tuesday, Najib had said a second stimulus package would be introduced to assist companies and workers affected by the weakening economic climate.

He said the details, features and focus of the second package was still being studied and discussed with various quarters.

Last November, the government announced the RM7 billion stimulus package aimed at achieving a 3.5 percent economic growth this year. -- BERNAMA ..."


shrek said...

"At this stage we want the RM 7 billion expanded quickly"

How do you expand RM 7 billion? By adding more RM. But I can easily expend the RM 7 billion by building more hospitals, clinics, piped water supply, schools and retraining of graduates for employment.

Salak said...

Ya lah!

You can turn it Over. That way it'll gather lotsa moss. I thought he read economics! Maybe he's into Voodoo economics. I reckon the Kelate or Terengganu budu' had him! :))

The way he said it sound so superficial---lacking in the commitment even in the way he said. It sounded like, you know, "dishing it out" in the way he's used to doing of "public money"?

WHAT and HOW exactly is this RM7.0 billion all about. I couldn't get a gist of the seriousness of this thing. Has he lost his presence of mind? The fler is UNFIT to hold Public Office!

peng said...

"The entire RM7 billion will thus be in the hands of the ministries and agencies and they have to take immediate action," - Najib

But how sure is Najib that the money will reach the people? I mean the rakyat, not the VIPs business tycoons, not the Umno contractors, not the cronies, not those heading the ministries and agencies.

During the Permatang Pauh by-election campaign, I was told that RM400,000 cold cash was given to a division chairman to be given to voters. The money obviously did not see the lights of PP, nor did it reached the hands of the people. Maybe a tiny winy portion of it. I also heard that immediately after the by-election, the entire family of this chairman went on a holiday overseas!
Oooh, RM7billion is a loooot of money. Soon we will have several millionaires. What irony, millionaires made our of a recession!

shrek said...

Real easy to ensure RM7 bil expended. First you have Ministers then Dy Mins, MT members, then Ketua Bahagian, followed by Ketua Cawangan and go down the chain. Soon we'll see many more Istanas and illegal satay and tom yam restaurants popping up all over the place.

More Mercs, BMW's, Porsche, Lambor, and throw in a couple of Eurocopters for commuting. Help MAS by travelling First Class with whole families and staying at Toni hotels instead of Tune hotel.

peng said...

Shrek, you cakap betul!
Then the RM7 billion is not enough. No wonder they need a second 'stimulus' package. To stimulate more millionaires!

Salak said...

The way things are going, they don't need a second stimulus. They'll need a third! And that'll leave you bareback!

BTW! Do you know where the 7 billions came from? :))

We need to know. Otherwise, how'll we get 3 more?!

peng said...

I am more keen to know where the money will go to, rather than where it came from.

Obviously it did not fell from the sky, nor did it come from our leaders & past leaders kitty bank.

Really, DPM must think rakyat is so gullible. Expect us to jump with joy, clap clap, the economy is going to be revived with the transfer of billions to ministries and agencies.

The rakyat wants to know HOW will the money be spent by each ministry and agency. And how much is allocated to each. Transparency & accountability, 'mana dia?'

Salak said...

[DPM must think rakyat is so gullible!]

For which, peng? :))

That we actually have money or that we have more, enough to to break the 7 billion to make it a nice round figure to 10.0 billion?

We are in deficit, perhaps now up to 5% or in real terms 8 or 10% ! Bo lui, lah peng! :))

peng said...

Both lah, money from where and money to where!
They take as as 'tong sampah', all ready to take in their rubbish!
We are not and we will not be fooled.

shrek said...

Money from where? Just chop or print lah. No need to be backed by gold reserve. Not enough go and borrow from EPF, Tabung Haji, SOCSO and other pension fund. Why let the money sit there, make it work for BN. Guess now having tallied all the Ketua Bahagian, Ketua Cawangan and all their deputies, the amount needed is more than RM 10B.

Remember UMNO GA is coming soon. Last GA every Ketua Bahagian got RM 1M. Now have to up it, inflation mah.

Salak said...

I almost forgot the UMNO GM lah!

Then, we'll have to revise that upwards, say to 12.5 billion? :))

Salak said...

“The most memorable element in it (the stimulus package) for me was the provision for RM200 million of this fiscal stimulus to go towards ‘re-engineering’ all Malaysia’s toddlers into ‘holistic human capital’, whatever that is, in nurseries run by an organisation led by the wife of the deputy prime minister.” [ Tengku Razaleigh ]