PH saved LTAT? You denied them billions in profits, Najib tells Loke
Najib Razak says Pakatan Harapan ‘should not try to claim it is a hero’ for saving LTAT and veterans.
PETALING JAYA: Najib Razak has rubbished claims by former transport minister Loke Siew Fook that Pakatan Harapan saved the armed forces pension fund (LTAT) from a loss of RM555 million in a government bailout.
Loke told the Dewan Rakyat on Monday that while he was the transport minister, he had suggested that LTAT be reimbursed the RM555 million it spent to take over the concessions for the Automated Enforcement System (AES) for driving offences.
He said former defence minister Mohamad Sabu agreed with the suggestion, and claimed that this “saved” LTAT.
However, Najib said today that instead of saving LTAT, Loke had denied the fund its yearly profits, which could have reached billions of ringgit.
He said that in 2015, a decision was made for LTAT to pay and take over the concession from private hands. However, in 2018, the PH government took charge of the AES concessions from the fund by reimbursing the costs it previously paid to the private companies.
“After taking over, the PH government rebranded AES to become the Automated Awareness Safety System (Awas),” he said, despite the coalition’s earlier promise to abolish AES.
Subsequently, he said, PH abolished discounts and exemptions for Awas summonses.
Referencing the Road Transport Act 1987, Najib said that under Awas, not complying with speed limits and traffic lights was subject to court action and, if convicted, an individual could be fined up to RM2,000.
“(There were) no more compounds, no more discounts and no more exemptions, although the number of traffic cameras was increased by the PH government.
“(A total of) 84,116 summonses with a fine of up to RM2,000 is equivalent to the collection of summonses up to RM169 million for 2018 alone,” he said, questioning the amount LTAT lost because the PH government had taken over AES.
Previously, Loke had also said that it was then prime minister Najib who had proposed that LTAT take over AES from concessionaires Beta Tegap Sdn Bhd and ATES Sdn Bhd for RM555 million.
However, Najib explained that although the concessions were officially completed in 2011, the AES project had been awarded to the private sector before he became the prime minister.
“(Yet) You want to claim you are a hero for saving LTAT and veterans?
“That’s why, under the PH government, LTAT’s dividend was only 2% in 2018 and 2.5% in 2019, compared to 12% in 2016 and 12.5% in 2017, under the Barisan Nasional government,” he said.
PETALING JAYA: Najib Razak has rubbished claims by former transport minister Loke Siew Fook that Pakatan Harapan saved the armed forces pension fund (LTAT) from a loss of RM555 million in a government bailout.
Loke told the Dewan Rakyat on Monday that while he was the transport minister, he had suggested that LTAT be reimbursed the RM555 million it spent to take over the concessions for the Automated Enforcement System (AES) for driving offences.
He said former defence minister Mohamad Sabu agreed with the suggestion, and claimed that this “saved” LTAT.
However, Najib said today that instead of saving LTAT, Loke had denied the fund its yearly profits, which could have reached billions of ringgit.
He said that in 2015, a decision was made for LTAT to pay and take over the concession from private hands. However, in 2018, the PH government took charge of the AES concessions from the fund by reimbursing the costs it previously paid to the private companies.
“After taking over, the PH government rebranded AES to become the Automated Awareness Safety System (Awas),” he said, despite the coalition’s earlier promise to abolish AES.
Subsequently, he said, PH abolished discounts and exemptions for Awas summonses.
Referencing the Road Transport Act 1987, Najib said that under Awas, not complying with speed limits and traffic lights was subject to court action and, if convicted, an individual could be fined up to RM2,000.
“(There were) no more compounds, no more discounts and no more exemptions, although the number of traffic cameras was increased by the PH government.
“(A total of) 84,116 summonses with a fine of up to RM2,000 is equivalent to the collection of summonses up to RM169 million for 2018 alone,” he said, questioning the amount LTAT lost because the PH government had taken over AES.
Previously, Loke had also said that it was then prime minister Najib who had proposed that LTAT take over AES from concessionaires Beta Tegap Sdn Bhd and ATES Sdn Bhd for RM555 million.
However, Najib explained that although the concessions were officially completed in 2011, the AES project had been awarded to the private sector before he became the prime minister.
“(Yet) You want to claim you are a hero for saving LTAT and veterans?
“That’s why, under the PH government, LTAT’s dividend was only 2% in 2018 and 2.5% in 2019, compared to 12% in 2016 and 12.5% in 2017, under the Barisan Nasional government,” he said.
AES was a corrupt deal by the Najib Government.
ReplyDeleteThe PH administration rescued Tabung Haji from becoming another Kleptocrat piggy-bank
Najib ain't no economic hero.
ReplyDeleteUnder the Najib BN Government, Malaysia was steadily descending into Industrial Scale Corruption.
Corruption wa no longer under-the-counter. It was above-the-counter , Carried out on an industrial scale.
Tabung Ponzi Barang Naik BN...pergi mampus Malusial!!
ReplyDelete