Page 82 - PH Manifesto English

Promise 37: Ensuring the long-term prosperity of the

rakyat/people

The Government is not the real owner of the state’s wealth. It is only a

trustee for its people. Thus, a trustworthy government will never spend the

nation's wealth for the sake of short-term gains, ignoring the future needs of

the country. It has to be emphasised that such expenditures can lead to an

increase in debt.

The UMNO and Barisan Nasional administrations have put the country in a

dire situation as a result of extravagance and lavish spending.

Among the Pakatan Harapan Government’s first steps will be to review, list

and publish all the BN’s government debts so that the public can access the

information.

The Pakatan Harapan Government will also introduce an Act that would

prevent the government from dipping into people's trust funds such as

Lembaga Tabung Haji (TH), Employees Provident Fund (EPF), Retirement

Trust Fund (KWAP) and Armed Forces Fund Board (LTAT) to finance

government expenditures. The National Trust Fund Act 1988 will be

revamped to enable KWAN (Kumpulan Wang Amanah Negara) to be the

state’s financial guarantor, by looking at other success stories such as the

Norwegian government’s investment funds. The fixed percentage of profits

from Petronas, with a minimum of RM10 billion a year, and the profits of

other government-owned companies will be channelled to KWAN, which will

function as a long-term national savings fund.

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