Finance Minister’s bankruptcy statement defies logic — community leader

Richard Wee

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By Lian Cheng

KUCHING, June 22: Federation of Chinese Associations in Kuching, Samarahan and Serian Divisions president Datuk Richard Wee questioned the logic of Finance Minister Lim Guan Eng’s conclusion that Sarawak will become bankrupt within three years if Gabungan Parti Sarawak (GPS) maintained its RM11 billion budget annually.

Wee said if the same rationale were to be applied to the federal government, Malaysia would also be broke, not within three years but more than one year.


“Malaysia ‘s reserve as at Feb 2019 is about US$102.6 billion and that is about RM420 billion. Malaysia’s 2019 Budget, however, was set at RM314 billion.

“Going by the Finance Minister’s logic and rationale, Sarawak, which has a reserve of RM30 billion, will go bankrupt in three years if it has an annual budget of RM11 billion.

“Should that be the case, what is good for the goose is also good for the gander — Malaysia, with its reserve of RM420 billion and a budget of RM314 billion, will be bankrupt in slightly more than one year,” Wee told DayakDaily today.

Wee said as a finance minister, Lim should not make an unsubstantiated statement, especially statements that may adversely affect the confidence of foreign investors in Sarawak.

“The finance minister is assuming that there is absolutely no income at all for Sarawak in the three years when making the statement. How can that be possible?

“We hope our finance minister will be able to use the international standard and practice as the same yardstick to measure both Sarawak and Malaysia in order to give a fair and accurate view and situation for both economies,” said Wee, who is also Chairman of the Management Board of Kuching Chung Hua Middle School No 1, 3 and 4.

Wee was responding to Lim’s statement last night, where he said Sarawak would go bankrupt in three years’ time if GPS continued to rule the state.

Lim said this when attending Sarawak DAP’s fundraising dinner themed `Sarawak here we come’ in Kuching. — DayakDaily