Diam, Daim!

Despite relentless criticism, Umno grassroots leaders are standing firmly behind the PM and telling his detractors to stop their barrage of criticisms.

COMMENT

By Sebastian Yeoh

Elected leaders have a job to do – to rule and to govern. Retired politicians or armchair critics must terminate their recurring soap operas on their favourite “scandals” of the day. Undeniably, intrigue and sordid details or even notions of conspiracy spike readership but, the government cannot afford the time to entertain such hyped-up issues, which prevent them from fulfilling what they were first elected to do.

The barrage of criticisms has gained momentum and even Tun Daim Zainuddin has joined the litany of criticism against the status quo.

Born in Alor Setar in 1938, former Finance Minister Tun Daim Zainuddin has a sterling record of achievements that many dream of but few can show. His solid academic, corporate, social, and political experience belies his true substance. I respect Tun’s abilities in his fields of expertise but hope Tun can reconsider his current salvo on the status quo lest our country suffers serious repercussions of his words and end up in dangerous quagmires.

In a recent interview, Tun doubted whether recent shows of support for Prime Minister Najib Razak were real, and what the true feelings of Umno grassroots leaders were. Whilst each may have the freedom to express his doubts, bear in mind what caused those citizens to step forward to vocalise their support. In no uncertain terms, they are telling detractors to stop their barrage of criticisms because regardless of what is thrown their way, they stand firmly behind PM Najib come what may.

According to Tun Daim, there was a view that the show of support for Najib from Umno, reflected how weak he really was. I beg to differ. Such a display of support firmly indicates the outrage supporters feel towards the virulent attacks against Najib. If indeed they perceived Najib was weak, all the more they would have observed silence and wait for him to step down. However, the continuous outpouring of support from the north to south and west to east of the country shows critical sectors of the ruling coalition still want him to lead this country.

In February 2015, Tun Daim queried the fall of the ringgit. Perhaps he overlooked the fact that Malaysia is a country that produces and exports oil. As such, the effect of the decline in the market price of oil is among the major factors contributing to the decline in the value of its currency.

From a macro perspective, weak global economic growth also directly affects the value of its currency, as the demand for commodity production in Malaysia is relatively low.

However, the fall of the ringgit is not necessarily negative for the country as it can lead to increased demand for the country’s exports making Malaysia more competitive.

In 2014, the value of foreign direct investment (FDI) in Malaysia recorded the highest rate ever – RM235.9 billion. This clearly showed that foreign investors had confidence in the economy and the country’s leadership. Results of foreign investment has generated over 178,365 jobs in Malaysia. Hence, the outlook for Malaysia is not as bleak as painted by naysayers.

The Governor of Bank Negara Malaysia has openly given the impression that the value of its currency is undervalued, and this situation is not expected to persist long as our country’s economic fundamentals are very strong.

Few realise how the ETP has been implemented to strengthen the country’s economy by focusing on industries that can provide the best return for the state and ensure a good ‘diversified economy’. In fact, the International Monetary Fund (IMF) has predicted the Malaysian economy will remain strong and has praised the macro financial policy and efficient management of government.

While many lambaste BR1M, it is the best way to provide direct and targeted subsidies. Its value has also increased to RM950 and its staggered disbursement ensures better ‘cash-flow’ to citizens.

As for criticisms against the implementation of the GST, which our government has been discussing since 1995, more than 160 countries have already implemented it so it is an effective tax system. GST is tax transparent and efficient compared with SST. With the fall in commodity market prices, GST can stabilise the country’s finances.

Malaysia imposes among the lowest tax in the Southeast Asian region at just 6% compared to Thailand and Singapore at 7%, Indonesia at 10% and Philippines at 12%. Revenue from GST will be reinvested to public transport systems, health programmes, education, BR1M, and other public services. More than 900 items have been exempted from GST, to ease the burden of the cost of living.

To tell our government that it is wrong to implement GST is akin to telling all the other 160 countries that they too have made a wrong move. Surely, the government of 160 countries cannot be wrong.

There is nothing wrong in questioning our government but do not make disinformation as our staple diet in news portals. Such a diet is too bitter a pill for Malaysians to swallow daily. Hence, it is better for Tun Daim to be diam so we can all live with more hope for a better nation.

Sebastian Yeoh is an FMT reader