…and he did not even have to wait for the AG report to tell him that.
Finance Ministry Moves To Reduce 1MDB’s Debts
PUTRAJAYA, May 19 (Bernama) — Prime Minister Datuk Seri Najib Tun Razak said the Finance Ministry would take the appropriate measure to reduce 1Malaysia Development Bhd (1MDB)’s debt.
Najib who is also Finance Minister said issues surrounding 1MDB would be answered when the Auditor-General presents the audit report to the Public Accounts Committee (PAC) soon.
“I hope everyone will wait for the report,” he said at the finance ministry’s monthly assembly here Tuesday.
On March 4, Najib directed the auditor general to verify 1MDB’s accounts.
“We believe with this measure, we can reduce 1MDB’s debts. I’m confident of the finance ministry’s ability to execute it amidst all the criticisms.
“We will prove with this move, we can achieve the objective. From time to time, we will take the necessary measures,” he said.
The problem with 1MDB is its debt and the dodgy ways they have concocted to get it. Now, due to its high debt, the public had to pay more than RM2 billion per year on interests alone!
Is there no heads to roll because of this overly careless and ridiculously ill-advised venture perpetrated by the Ministry of Finance and 1MDB Board of Directors?
After months of telling the public that the finances of 1MDB is strong and secure by saying nonsensical stuff like the assets is more than the liabilities, 1MDB will not miss any payment schedule so on and so forth, the government finally today admits that yes, we have a problem.
The mess 1MDB created had caused the Prime Minister to have finally identified what the Finance Minister and 1MDB advisors had done wrong, and now wanted the Finance Ministry to find solutions to this problem.
Obviously he was talking to the mirror when he made that announcement.
This blog have always believed that the Prime Minister must, at the very least resign from his Finance Minister post in order to regain credibility. The easiest way is to not appoint himself to that particular post in the upcoming, long overdue cabinet reshuffle.
What better way to re-strategise and regenerate a flaccid performance? As it is, there is enough deadwood in his cabinet which could build a sampan.