RM115bil raised from borrowings, asset sales this year – Najib

Najib Razak claims that Putrajaya has raised RM115.53 billion in additional government revenue since the start of the year through domestic borrowings and sales of assets.

Citing a list which he claims is from “official government” sources, he asked why this money was not used to help the people during the last few movement control orders (MCO).

In his Facebook page today, he detailed the alleged fundraising efforts, which included the RM5 billion taken from the National Trust Fund (KWAN) and proceeds from Khazanah Nasional Bhd’s Telekom Malaysia Bhd share placement and its divestment in semiconductor company SilTerra.

Of the RM115.53 billion, the list alleges that over RM87 billion came from domestic borrowings, with one such loan expected to be taken out on Monday (May 24).

“It is indeed the government’s right to borrow RM115.53 billion from the start of 2021 until May 22 to spend at will after the Finance Act 2020, which controls and monitors government spending, was suspended through the Emergency Ordinance,” he said.

“But it is also the right of the people and elected representatives to ask why the long-awaited MCO 2.0 and MCO 3.0 assistance this year was not expedited if RM115.53 billion had been obtained,” said the Pekan MP.

Najib said this money would be best served by helping the people while a strict 21-day MCO is in force.

He has long endorsed the concept of shorter but more restrictive MCOs as a way to break the chain of infections, without causing undue economic damage.

Najib said he was so confident of the veracity of his information that he was “ready to be investigated under the Emergency Ordinance for fake news, which carries a fine of RM100,000, if this list is not authentic”. FMT