Friday, January 27, 2023

The PN Government allegedly borrowed RM11.5 billion in just 10 Days

Social NewsThe PN Government allegedly borrowed RM11.5 billion in just 10 Days

Yesterday (9 August), the former Prime Minister, Dato Sri Najib Razak had took it to his Facebook to question the Muhyiddin-led Perikatan Nasional (PN) government for their borrowing of about RM11.5 billion in just 10 days.

In the Facebook post, he shared screenshots of details from the Bank Negara Malaysia’s (BNM) website, including the details of the billions of ringgit of bonds issued by the PN government with BNM as the facility agent.

The RM11.5 transactions were made through 3 bonds, labelled as Malaysian Islamic Treasury Bills, Malaysian Government Securities and Government Investment Issues.

Source: Facebook

In addition, Najib also pointed out that the bonds were there were issued were dated 27 July, 3 August and 9 August, with the borrowing amounting to RM5.5 billion, RM4 billion and RM2 billion respectively.

Najib then captioned “Why are they rushing to borrow money? What’s the rush?”

Previously, Najib had questioned the the PN government for their borrowing of RM160 billion since the start of 2021.

“But what the rakyat has received is so little. Achievements are nowhere to be seen.” he said.

“The more they (the government) lose legitimacy, the faster and larger the amount being borrowed by the PN government. Is there a spike in durian prices?” he asked, referencing to the speculation on the PN government for their attempt to buy over the support of Members of Parliament before the vote of confidence in September.

What do you think about this? Share your thoughts!

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