‘Economy will suffer if Pakatan wins’
Opposition’s policies will result in increase of national debt, says Najib
BATU PAHAT: Datuk Seri Najib Tun Razak says if Pakatan Harapan wrests power, the country’s stock market and currency will take a plunge.
“If they abolish tolls, GST and PTPTN student loans as stated in their election manifesto, the national debt will increase by RM430bil, with the total rising to more than RM1 trillion based on a study done by the Finance Ministry.
“It is the people who will ultimately suffer,” he said when launching Permodalan Nasional Bhd’s Minggu Saham Amanah Malaysia 2018 event at Stadium Batu Pahat yesterday.
The Prime Minister said Pakatan’s promise of abolishing the GST may not necessarily reduce the prices of goods and services as it claimed, adding that the reintroduction of the Sales and Services Tax (SST) of 10% may result in a “double jeopardy” with prices going higher.
Dismissing the Pakatan manifesto as one made up of “Pak Pandir” (village idiot) policies, he said its policies would result in an increase in the government debttoGDP ratio from 50.8% to over 80%.
He lambasted the Opposition for making irresponsible pledges simply to win votes.
“We cannot be populist in nature but if you want to gain the support of the rakyat, it must be done responsibly and with principles.”
In comparison, Najib said Barisan Nasional’s manifesto had received positive reviews from local and international organisations, including the World Bank, JP Morgan and Malaysian Institute of Economic Research (MIER).
“The World Bank revised our growth this year from 5.4% to 5.6% while JP Morgan and MIER are also optimistic about the country’s growth. They made no mention of the Opposition manifesto. Why? Because there is no value in their manifesto!” he said.
On PNB, he said the fund management company had played a crucial role in the economic health of the country.
Najib unveiled PNB’s portal www. myasnb.com.my for its 13.4 million trust fund holders to manage their investments online.
Besides carrying out online transactions, ASNB customers can now access their accounts, view balances, print electronic statements and update their personal information online.
Later in Tanjung Piai, the Prime Minister urged Johoreans to sup