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Dam lies
Written by CPI Monday, 19 November 2012 16:44
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CPI introduction
We are reproducing this recent book review from The Economist. It deals with the sordid politics and economics of foreign aid from the point of view of Britain, the donor country. This case study is of particular importance to us in Malaysia as the recipient country where there has been a string of major scandals associated with dam construction, ranging from Bakun and Baram to Pergau and many others yet uncovered.
According to the book written by Sir Tim Lankester, a former British civil servant who played a central role in the Pergau fiasco, not only could Malaysia have produced electricity far more cheaply from other sources but there were also allegations of corruption “when the Malaysian utility which received the heavily subsidised loan was privatised, its shares were priced far too low… [so] the British aid benefited the well-placed Malaysian institutions and individuals who bought them.”
This scandal took place under Dr Mahathir Mohamed’s watch as prime minister. It is being repeated by the current government’s fixation with mega projects and the potential for massive, hidden and undeserved financial gain it is providing to key players in the political establishment, civil service and private sectors.
The lesson, according to the book review, is one that our decision makers on massive infrastructure projects can well learn from. According to it, “had he (Tim Lankester) or another civil servant blown the whistle earlier on the disgraceful link to the arms deal – which amounted to inter-governmental bribery on a massive scale – the whole sorry saga might very well have been averted.”
‘The Economist’ book review
Aid and trade : At look at the underbelly of foreign aid
Book title – The Politics and Economics of Britain’s Foreign Aid: The Pergau Dam Affair
Author– Tim Lankester
Publisher– Routledge (194 pages)
It is easy to understand why tying foreign aid to exports appeals to rich-world politicians. It seems to kill so many birds with one stone: international do-goodery; jobs and profits at home; perhaps, as a consequence, corporate donations for your party. It is also easy to see why the marriage will always be fraught. The exporters’ interests—to maximise profits—are in direct competition with the interests of the aid recipients. It is more than likely that this tension will be reflected not just in difficult negotiations with the exporters and their customers but in fierce turf battles between the various government departments involved.
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I have always asked where is all the wealth of this nation, when it is so blessed with all the natural resources and yet the country is still so heavily in debt ?
Most of all, the shenanigan Mahathir never wanted any inexpensive means for all the mega projects he implemented, it would have meant he would not have the opportunities for the mega 'commissions' that went with them. Simple as that and that is why in spite of all the natural resources the country is still so heavily in debt instead of having trillions in the reserve.
I might even add to say the country is now near bankruptcy and is rated just like Spain and Italy. You don't even have to look far, just look across the causeway, a country with absolutely no natural resources, yet to day is the world richest nation with trillions of ringgits in their reserves. Why ?
They have a bunch of hard working, intelligent, frugal and most of all honest politicians that managed to have all the wealth generated kept in the nation's coffer instead of having them in the private foreign bank accounts of a few individuals.
The only way to impede the shambles from going on is to kicked out from the ivory towers these scumbags and parasites have managed to cheat their ways to stay on for so many decades. Just kick them out of Putrajaya in the coming GE, regardless of how much money they are giving you ! Or should I say they are offering to buy your votes with your money that they intend clawing back once they are back in the watch with new taxes. So make sure to vote the fraudsters out once and for all time in the coming GE !