Thursday, 3 October 2013

Fiscal Prudence must begin with the Government

Much has been said over the Auditor General’s report and there is no need to repeat it here.  As the list of wastages continues, Malaysians will turn less receptive over the Government’s subsidy rationalization exercises and the potential introduction of GST on the basis of trimming spending and reducing the budget deficit.  

No doubt, there is a real urgency to address the budget deficit. And yes, the pain will have to be shared.  But reports of such wastages lead many to wonder why the Government is not more financially responsible at a time of limited resources.

Surely, to be credible and gain the support of the public who are asked to make sacrifices, the Government must at the very least show commitment to be more prudent and to ensure that actions are taken against all abuses, without fear or favour.   All leaders can only lead by example.
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5 comments:

  1. Anonymous3 October 2013 at 12:54

    mr. tong,

    you are a great value creator and i really hope to read your view and comment on companies listed in KLSE.
    on your latest article, honestly speaking under the current BN government there is no hope of any action that will help save this country from going down.
    at the end the rakyat will have to pay for all these wastages and corruption.
    The government always claimed that they help the rakyat on subsidized fuel but actually it is not true at all.
    Actually the car buyers had already paid very huge taxes when they buy a new vehicle. For example, the latest Honda Jazz CKD is price at around RM75000 in KL vs RM39000 in Langkawi.There is RM36000 difference. Actually we the rakyat are subsidizing the fuel prices ourself.

    ReplyDelete
  2. Different Thoughts3 October 2013 at 14:42

    For a non-bumi to comment, they will say melayu punya pasal, keluar negara. Yet they are seething, not that they bother but why they didn't get a ride on this gravy train.

    We are waiting for the awakening day....hope its not too far away.

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  3. Anna5 October 2013 at 11:44

    Hi Mr Tong, it's nice to note you have joined the blogosphere. Take care, all the best.

    ReplyDelete
  4. Unknown5 October 2013 at 21:41

    Haaa..... I think u need to be careful but maybe u r ready this time. LEAD BY EXAMPLES.... IF it is happening in current ruling regime in Malaysia, u can see Sun rise at the west.... meanwhile, there is the rumors that wall street predators start writting Credit Default Swaps on MGS...Ringgit will heading south, & inflation will sky rocket. God bless Malaysia..

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  5. Mike Forex Cable7 October 2013 at 10:16

    auditor's report is highly vetted/"censored"....I dun see any billion ringgit discrepancies....mere millions is for show in order to stay relevant...

    ReplyDelete

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