|
PRESS
RELEASE
MATUNGGONG
TODAY, 17 AUGUST 1998
PBS
TO BN : TELL THE TRUTH ABOUT THE SABAH ECONOMY
MATUNGGONG,
Sun. - Parti Bersatu Sabah (PBS) today urged the Barisan Nasional
government to disclose the true state of the Sabah economy and to
stop giving a misleading picture of the real situation.
Its
deputy president Dr Maximus Ongkili said it was crucial that the
government provides the correct picture of the real problems faced
by the Sabah economy so that entrepreneurs, investors, producers
and consumers in the market place could respond positively and make
appropriate adjustments to economic signals and policy changes.
He
was commenting on chief minister Tan Sri Bernard Dompok’s recent
statement that the Sabah economy would register positive growth
in gross domestic product (GDP) in 1998 compared to the national
economy which was expected to achieve a GDP growth rate of –1.8
%.
Dr
Ongkili, who addressed a gathering of leaders and supporters from
10 PBS branches last night in Kampung Buranak Silad near here accused
the State government of not telling the truth regarding the real
problems of the Sabah economy.
"Everyone
in Sabah knows that the major economic sectors contributing to GDP
are all undergoing drastic contraction and therefore negative growth
because of poor policies, administrative bottlenecks, structural
problems and external factors. The sectors that are badly hit are
forestry, construction, retailing and wholesaling, manufacturing,
services including tourism and financial services.
"Even
the public sector is stagnant and in fact shrinking as a result
of reduced spending by both the state and federal governments.
"The
only sector that is active and expected to register positive growth
is the industrial crop sub-sector, particularly oil palm and cocoa,
but even revenues from these commodities are declining due to gradual
tapering of world prices. Issues pertaining to labour shortage and
higher labour costs due to the increase in levy as well as disruptive
weather changes in the last twelve months have also made this sector
volatile and less stable in terms of income.
"From
these facts how on earth will the Sabah economy register a positive
growth?" he asked.
"Indeed
any decent economic planner and analyst would conclude that the
Sabah economy will register a worse growth scenario than the national
economy, possibly even registering a negative growth of more than
2.5%. This is especially so in light of instability of economic
policies arising from the rotation of the chief minister’s post,"
alleged Dr Ongkili.
The
Bandau member of parliament stressed that the government would not
achieve anything by hiding the basic facts about the economy, adding
that "the ordinary public knows the actual situation."
"The
government would do a great service to the people of Sabah if it
were to acknowledge the seriousness of the economic problems faced
by the State, especially in respect of the acute shortage of public
revenue for this year. The Sabah BN should learn from the federal
government which has began to openly acknowledge that the economic
crisis will hurt Malaysians and urged them to be resilient and prepare
for the worst.
"Instead
the Sabah BN leaders are pretending that all is well with the Sabah
economy. This is certainly an irresponsible act. The public knows
exactly what is happening and they will not be hoodwinked by this
denial syndrome," he claimed.
Dr
Ongkili called on the State government to disclose how it would
revitalise the economy in accordance with its famous Sabah Baru
promises which he claimed were being forgotten by the BN leaders.
He
also disclosed that PBS leaders, economists and consultants were
finalising a Sabah Economic Revamp Plan which contains
short and long term strategies for restructuring, revitalising and
restoring proper management of the State economy and finances, adding
that "the plan will be unveiled by the party president as part of
its election manifesto at the appropriate time."
|
