Friday, November 04, 2016

EPF Members Are Government 'Cronies'?

The Oppositions never runs out of bullets against the BN led government. They have often than not shielded themselves as the rakyat’s defender; fielding statements or questions in their quest underneath their dark true intentions/agenda. 
In the recent populist statement, Lim Guan Eng; the Penang Chief Minister and DAP secretary-general has accused the PLUS Highway Berhad as the government crony looking for extraordinary profits was refuted by the Works Minister; Datuk Seri Fadillah Yusof. 

Lim’s accusation implied that the 14.4 million EPF members as cronies is very spiteful as a rakyat’s representative. The EPF owns 49 percent shares of the highway concessions and the government with 51 percent shares. Most definitely, EPF is NOT a single share owned by private ‘cronies’. 

The privatization of the Plus Highways Berhad in the year 2011 has rationalized the overall toll structure of all highway concessions in the Plus Group thus prevented unnecessary toll hikes. 
EPF’s ownership of the highways are part of other investment that allowed its members a yearly steady returns on the maturity of the cash generating asset, simultaneously alleviate the rakyat’s mobility woes. 

Through the privatization initiatives, the tolls collected are spend on yearly operating costs of the 986.5km highways. Let alone, the maintenance of the federal and state roads, yearly road tax (RM2.4 billion) collection could not suffice the related cost of expenditures. 

What a shame! Lim Guan Eng has shot his own foot denying the situation, dragging the EPF members of his mired political fame. His actions is far from being responsible as a member of The House of Representative.