Penang trailing behind KL and Labuan in economic growth – PCM Huan

 |Feb 6, 2017
PCM veep Huan Cheng Guan.
PCM veep Huan Cheng Guan.

Based on statistics, Labuan and Kuala Lumpur had outperformed DAP-led Penang government in terms of Gross Domestic Product (GDP) per capita as well as Median Household Income growth.

In revealing these statistics, Parti Cinta Malaysia veep Huan Cheng Guan wrote in his blog that during Barisan Nasional rule in 2007, the GDP per capita for Labuan was actually below Penang by RM3,280.

However, by the end of 2015, Labuan’s GDP per capita not only overtook Penang but is now RM13,730 higher than Penang.

GDP

The lead by Kuala Lumpur over Penang had also increased by a big amount, Huan added.

“In 2007, Kuala Lumpur’s GDP per capita was RM44,801 while Penang’s was RM31,039 – a difference of just RM13,762.

“By the end of 2015, Kuala Lumpur’s lead over Penang have now increased to RM49,875.

“I do not believe this is all due to Kuala Lumpur and Labuan being Federal Territory but mostly due to Penang DAP’s poor economic management, general incompetence and their inability to complete their projects,” Huan said.

While I don’t agree with federalising Penang, especially since its chief minister Lim Guan Eng had already sold off much of the state land and state assets to fund his 5 times increase in annual spending, he added.

“I do not agree with Pakatan leaders who said that there is no evidence of economic development in the federal territories.

“DAP’s Lim Kit Siang pointed out that despite FT minister Tengku Adnan’s claim that the federal government had invested over RM5 billion since taking over Labuan in 1984, there has been no proof to show that the island has benefited economically from the move,” Huan added.

Recently in an interview on the BFM radio station, Tengku Adnan had said that he wanted Penang, Langkawi, Kedah and part of Malacca to also be federal territories so that, being under the direct rule of Putrajaya, their growth trajectory will reach a new level.

 

 

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