(Winding-Up Speech at the DAP Gelang Patah forum “1MDB in RM42 billion debt – Is Malaysia on the Verge of Financial Turmoil” in Johor Baru on Tuesday, 16th December 2014 at 10.30 pm)
During the Q-and-A session, a member of the audience asked what should be done in the face of the multiple national crisis confronting the country.
I will make four proposals:
Firstly, the Prime Minister, Datuk Seri Najib Razak should stop being an “absentee PM”.
Secondly, he should declare a national economic crisis to rally all Malaysians to focus on the multiple economic challenges facing the country, now that Malaysia is regarded as South East Asia’s weakest spot with the multiple plunge of forex and equity markets and current slide in prices of global crude oil and other commodities.
Thirdly, form a bipartisan Barisan Nasional-Pakatan Rakyat Council for National Economic Salvation.
Fourthly, Najib should be a Prime Minister for all Malaysians, and not for any race, religion or region. As such he should steer clear of politics and policies of exclusion and extremism and advocate politics and policies of inclusion and moderation, where every Malaysian, regardless of race, religion, region, gender, age or even political party, can unite on a common platform to save the country from the looming economic crisis.
Pakatan Rakyat parties and leaders are prepared to respond positively in any national emergency and co-operate with the Prime Minister and the UMNO/Barisan Nasional government in the national interests, transcending party and individual interests.
As 30% of the country’s spending is reliant on oil, the sharp decline of international oil prices have completed knocked off kilter the 2014 and 2015 Budgets, based on crude oil price at US$110 per barrel in 2014 and US$105 for 2015.
Najib should summon an emergency meeting of Parliament probably middle or end of January to deal with the fast-developing and deteriorating economic situation instead of waiting for the scheduled Parliamentary meeting on March 9.
The bipartisan BN-PR National Economic Salvation Council should be tasked with responsibility to present to the emergency meeting of Parliament a blueprint which could rally all Malaysians to unite and face up to the economic crisis facing the country.