Monday, October 17, 2005

Privatisation Fiasco Unfolded Again

Police Contract Posted by Picasa

It was suppose to be an ingenious way to build housing for the police to resolve its accommodation problems. The government transferred 3 pieces of prime police land to a private developer and develop and sell and in return, the developer will build police stations and living quarters for the police.

However, the developer completed his commercial projects worth RM110 million but the quarters and police station remain incomplete. It is alleged that the developer had raked in millions in profit but abandoned the remaining works consisting of police stations and police quarters.

In June, the Prime Minister announced that the government had approved RM2.5 billion to provide better housing and working environment for policemen including reviving abandoned police housing projects nationwide.

This is not something unknown in Malaysia ... it is a continuing fiasco of the privatisation program mooted by Diam Zainuddin with the approval of Mahathir.

It was design to fail from the beginning and the results confirmed it.

In the first place, the contract were awarded to some well-connected politicians who sub-contract the commercial portions to some property developers in return for several millions in commissions. After building the portions and selling them, they pocket all the monies jointly. Now, they have to cough out money to build the police stations and quarters which is zero income and 100% liabilities. None of them, the concessionaires and the developers, would want to fork out these monies which runs into millions. What they had gained, they have kaput it, and sudah belanja untuk beli rumah bungalow, mercedes, kawin empat; wang pun sudah habis ... So, balance of the project have to be abandoned and the government must now come in to rescue.

This is the concept of Malaysia Incorporated and Malaysia privatisation's Success. Don't blame the concessionaires alone. They had to pay millions to some guys too. They don't get all! Maybe, Diam Zainuddin should be brought back to rescue these projects because he had played a large part to make this happen.

Or, alternatively, Khairy can come up with a better idea to privatise the reconstruction under the NEP and UMNO Agenda ... This is not the first and would not be the last. Do a research and you will find the answer - It is all within the UMNO Agenda from the very beginning.


FH2O said...

This is sad but unfortunately this is not new - these things happen ever so often that nobody seem to give a damn anymore and so the cycle repeats and the same crime is perpetuated ...

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