KUALA LUMPUR – Malaysia can climb out of debt if its citizens work harder, and government agencies spend less on festive celebrations, DAP lawmaker Datuk Ngeh Koo Ham said.
In his debate on the royal address, Ngeh (Beruas-PH) said Malaysians should emulate Japan’s “hard-working people” who rebuilt their nation “from the ashes of World War II”.
He also cited China as an example, noting how it has become the world’s second-largest economy.
“We thank all Malaysians who have worked hard for a long time – unless you have physical disabilities or illnesses that prevent you from doing so.
“All Malaysians, irrespective of income, must work hard to save Malaysia so that our productivity and (national) income increases, and we can pay off all debts in a short time,” he said in the Dewan Rakyat today.
Turning his focus to civil servants, Ngeh also urged them to work hard and ensure all project applications were approved as soon as possible.
Any delay, he said, would result in the people bearing the cost.
Ngeh also advised the public against buying expensive products, and to opt for cheaper alternatives.
He then cautioned government departments against excessive celebrations of festivals, such as Hari Raya.
“If there are festivities, I recommend that, although we can celebrate, let’s not go overboard. For Hari Raya, let’s not (hold celebrations) for a month.
“A district can organise a large-scale Hari Raya celebration. No need for each department to organise (its own) celebration) until work is left uncompleted.”
Malaysia’s debt is RM1.17 trillion or 64.3 % of the gross domestic product as of the fourth quarter of 2023, according to Bank Negara Malaysia.
Ngeh also suggested selling some of Petronas’ shares and building “another Petronas”, a firm he said has been a saving grace for the government since the 1970s.
“If we let the public purchase 30% of Petronas, the government could get about RM450 to RM500 billion, and we can reduce our debts and interest payments.” – March 5, 2024