Investment, commerce and business minister Tengku Zafrul Aziz’s latest announcement that the federal government intends to improve the Penang International Airport’s (PIA) infrastructure to facilitate semiconductor export has sparked vital concern.
The plan, disclosed within the Dewan Rakyat, goals to enhance Malaysia’s airport capabilities, particularly for high-tech exports.
Astoundingly, not one of the opposition MPs voiced any objection to the proposal.
It is vital to be aware that the PIA is owned by Malaysia Airports Holdings Berhad (MAHB), which manages 38 different airports within the nation, together with these in Sabah and Sarawak.
On the identical morning of Zafrul’s announcement, the finance minister, who can also be the prime minister, revealed the federal government’s determination to privatise MAHB in a scheme that includes Global Infrastructure Partners (GIP), an organization linked to BlackRock.
The course of will see 30% of MAHB’s fairness bought to GIP, apparently with out want for any tender or cupboard determination. It was additionally reported that BlackRock, a significant US funding agency, will ultimately take over GIP by the tip of this 12 months.
Controversial determination
The determination introduced by Tengku Zafrul to improve PIA has generated controversy, notably as a result of the federal government now plans to use public funds for an airport that it intends to privatise.
The determination is, for my part, shockingly unethical. Using taxpayers’ cash to subsidise a privately-owned company, which may even embody overseas homeowners like GIP, contradicts the rules of any privatisation coverage.
It goes with out saying that the primary purpose why sure infrastructure tasks are privatised is to scale back the monetary burden of the federal government.
Such financial savings in public funds may very well be higher utilised in sectors which might be extra helpful to the rakyat, akin to faculties, hospitals, housing and different vital utilities like water, electrical energy and flood mitigation.
Bizarre
It is equally weird and outrageous that the opposition has not addressed this challenge.
In reality, Tengku Zafrul additionally talked about that Johor’s Senai Airport, privatised virtually 30 years in the past and owned by Syed Mokhtar Albukhary’s MMC Corporation Berhad, additionally requires infrastructure upgrades.
Again, the federal government shouldn’t be utilizing public cash to fund a privately-owned facility.
This scenario raises a number of vital questions in regards to the correct use of public funds and the potential battle of pursuits that come up when supporting personal enterprises.
In my opinion, allocating taxpayer cash for infrastructure that advantages {a partially} foreign-owned personal entity is a misuse of public assets.
The Malaysian authorities should make clear this challenge, rethink their determination, and abandon this unacceptable strategy.
They should keep public accountability by guaranteeing that each one public funds are used transparently and ethically.
Government expenditure, collected by way of taxation, needs to be directed towards initiatives that supply clear and equitable advantages to the Malaysian public.
The views expressed are these of the author and don’t essentially replicate these of eNM.
