World Bank report shows Putrajaya may have sold off country’s assets, says Rafizi

Putrajaya may have "sold off" or "pawned" the country's assets in a last ditch effort to meet its budget
deficit target, said PKR.

Party strategic director Rafizi Ramli (pic) cited the latest World Bank report on Malaysia to back his claim, noting that it had said that Prime Minister Datuk Seri Najib Razak's administration will achieve the target to reduce its deficit to 4% through non-tax resources that included RM1.4 billion gained from “asset sales” and RM4.2 billion from “securitisation of government mortgages”.

Rafizi cited Page 10 of the report that details how Putrajaya planned to achieve its deficit target of 4% of the gross domestic product (GDP) this year from 4.5% last year.

The Pandan MP said the revelation in the World Bank report was shocking as it appeared that the Najib administration has reached the point where it is selling the nation's assets and pledging the country's land (through securitisation of government mortgages) to prop up the government's extravagance and wastage.

"I suspect the plan to sell off national assets has already taken place, because the aim of achieving the target deficit rate of 4% has in fact already failed.

"This means our national assets have already been sold off or pawned so that the proceeds for 2013 can be used to close up the chasm between national revenue and expenditure," he said. – December 20, 2013.