By Selangor Journal Staff
KUALA LUMPUR: The previous Barisan Nasional administration had left behind countless problems, turning Malaysia from an Asian Tiger to a small kitten.
Prime Minister Dr Mahathir Mohamad said one of the major problem the current Pakatan Harapan administration is facing is to generate funds to pay off the collosal debts left behind.
“It is hoped that with forums like this, people can give ideas to the government and that the government can implement some of those ideas.
“I am sure that this country will again grow to become yet another tiger,” he said during his keynote speech at the ‘Malaysia: A New Dawn’ conference.
The conference is jointly organised by Malayan Banking Bhd, CIMB Group Holdings Bhd and RHB Banking Group.
In a bid to overcome the financial struggle, Mahathir said several solutions have been thrown into the mix.
This includes devising a new taxation system, to which Mahathir himself admitted may not be a popular one amongst the people.
“I don’t think that is something welcomed by the people, but we may have to devise new taxes in order to have the money to pay our debts,” he said.
He also pointed out that an alternative method is for the government to sell off some of its properties to local investors, taking note that the previous government had sold plenty of land to foreigners.
Mahathir said land was one type of asset which the government could consider selling on top of other valuable government asset, despite being aware of the repercussions to such actions.
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“I don’t think that would be good for us, but we can still sell land to locals so that they can develop the housing projects and settlements that they believe will give them returns,” he said.
