Tuesday, February 22, 2011

Squandering the Natural Resources

Speculations are rife that by the time PR takes over the government of the country, the oil wells will have dried up and all the reserved cash of all the GLCs will be siphoned out until the treasury is on the brink of bankruptcy.

The masses will then undergo another phase of economy called the straitened economy in which foreign investors wll have lost completely their confidence in Malaysia, prices of essential food would have sky-rocketed, mass unemployment, the Ringgit would have depreciated significantly, infrastructural development and progress ground to a halt and there might be widespread dissatisfaction and protest.

It has been reported that during the past ten years, Petronas have cotributed no less than RM290 Billion to the Prime MInister. As Petronas is not responsible to the Parliament nor any Minister, no one knows how much money is still left behind within the country or it has simply just disappeared from the counry.

During the corresponding period, close to RM800 Billion had been siphoned out by way of corruption

How one wishes that these money were ploughed back for development for the betterment of the country.

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