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Sayang Sabah - The voice of Sabahans

Billions of ringgit wasted

Chin Su Phin
Chin Su Phin

KUALA LUMPUR: Senator Datuk Chin Su Phin said the Auditor General’s Report tabled in the Parliament always uncovered billions of Ringgit of public funds wasted due to leakages in the government’s financial management.

As our country moves towards becoming a developed nation by 2020, Chin wished to know the steps carried out by the government to eliminate all forms of wastage, leakages and abuse of public funds.

The budget tabled by the Prime Minister annually was balanced with deficit under control, but there were always two to three additional budgets being tabled throughout the year, said Chin who is also Liberal Democratic Party (LDP) when debating the 11th Malaysia Plan in the Dewan Negara.

On our country’s finance, Chin said Malaysia has recorded six per cent development and economic growth last year, the best in the Asia region.

In spite of the good economic growth, the value of the share capital of Bursa Malaysia has dropped six per cent but when compared to Thailand who recorded only one per cent in economic growth but its stock exchange’s capital market has rose 15 per cent despite the country’s political instability, he said.-Sayangsabah

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