When presenting the 2008 budget tomorrow, the Prime Minister-cum-Finance Minister, Datuk Seri Abdullah Ahmad Badawi should explain the full case for the government bailout of the RM4.6 billion Port Klang Free Zone (PKFZ) scandal to set an example of government accountability and financial integrity to all Ministers, Deputy Ministers and Parliamentary Secretaries.
This is because for the past two days, both the Deputy Finance Minister, Datuk Dr. Awang Adek bin Husin and the Parliamentary Secretary to the Finance Ministry, Datuk Seri Dr. Helmi bin Yahaya had been misleading Parliament and the nation about the true nature and character of the RM4.6 billion PKFZ bailout scandal.
In the 2007 supplementary estimates, the Finance Ministry asked for RM260 million for Port Klang Authority without giving any explanation as to its true purpose.
It was from my exchange with Helmi during the winding-up of the debate at the committee stage yesterday that it emerged that the RM260 million sum was the first amount of the RM4.6 billion government bailout for PKFZ, as beginning this year, the first annual payment of RM520 million for the RM4.6 billion bailout for the bonds raised by Kuala Dimensi Sdn Bhd — the PKFZ turkey contractor – has to be made.
It was also only after I had made persistent demand, declaring that this was information that Parliament and Malaysian taxpayers have right to access, that Helmi read out the schedule of repayments in the RM4.6 billion PKFZ bailout, viz:
2007 – RM510 million
2008 – RM660 million
2009 – RM660 million
2010 – RM772 million
2011 – RM487 million
2012 – RM733 million
2013 – RM170 million
2014 – RM170 million
2015 – RM170 million
2016 – RM170 million
2017 – RM179 million
Total – RM4,681 million
However, Helmi like Awang Adek in Parliament on Tuesday suffered from the denial syndrome and denied that this was a RM4.6 billion PKFZ bailout by the government. Both also refused to answer specific questions which I posed to them. Continue reading “RM4.6 billion PKFZ bailout scandal – let Abdullah justify it in the 2008 Budget tomorrow”