ARAU: Prime Minister Datuk Seri Najib Razak today warned that Malaysia’s debt would surge to RM416 billion if the goods and services tax (GST) and toll collections are abolished as promised in Pakatan Harapan’s (PH) election manifesto.
He said the abolition of the GST and toll collection would see the country incur a debt of RM383 billion, on top of its existing debts.
He added that the country would be unable to implement up to half of its national development plans with the loss of such huge revenue.
“Going by its (PH’s) manifesto, our country will decline further into debt. You (young people) will have to bear it. We cannot cheat the people; don’t cheat the people. We do what we can. If we cannot do something, we have to admit that we cannot do it.
“But believe me, we (Barisan Nasional) always have the people under consideration because the people come first in our policies,” Najib said at a programme at Universiti Malaysia Perlis here today.
He said countries would remain backward if all amenities were provided free of charge because the economy would not grow.
“We have to develop our economy. Last year, our economic performance was among the highest in the world with a 5.9% growth. When the economy grows, a lot of investment will flow in and this will provide many job opportunities.
“We have one of the best systems in the world but sadly, it is not appreciated. It is not our fault. Some people deliberately twist the facts into fake news.”
Calling on the people to place their trust in the existing government, Najib said he was confident that Malaysia was on the verge of becoming a great country.
“We are preparing a good economic landscape for the future generations. In the next five years, Malaysia will have a new look when projects such as the Mass Rapid Transit (MRT), High-Speed Rail and Tun Razak Exchange (TRX) are fully completed.” – Bernama