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SARAWAK’S FINANCIAL CRISIS UNFOLDS

August 27, 2019

Secret borrowing black hole can no longer be hidden – As state continues to put Taib family first, Sarawakians last

 

The son of Ibrahim Mahmud, Ahmad Ibrahim, now Chairman of PBB, is one of many in Governor Taib Mahmud’s extended family made super-wealthy thanks to disgracefully corrupt hand-outs from his uncle Taib and associated sweetheart deals (as earlier exposed by Sarawak Report – see excerpt below).

Without betraying the least shame for that enrichment (a trait still championed by his ‘Bossku’ kleptocrat cheerleader from the dock in Kuala Lumpur) Ahmad Ibrahim has emerged as a champion of his family dominated state government, attacking Malaysia’s Finance Minister and others who have dared point out Sarawak’s growing financial difficulties caused by such greed and plunder.

This week he jumped defensively onto the bandwagon once more to attack this blog for pointing out that Taib’s former political secretary, Karim Hamzah, has at last publicly admitted (by mistake) that the state’s destructive hydro-electricity programme has yet to find a buyer for its “excess energy”.

Sarawak’s “Excess Energy”

Karim Hamzah had courted headlines in joyfully welcoming an Indonesian proposal to move that country’s capital from Jakarta to Kalimantan … on the basis the Bakun Dam, completed a decade ago, might finally find a buyer for its unused hydropower.

Sarawak Report in turn called him out for admitting at last to Sarawak’s “excess electricity” problem, so long denied by his political colleagues.

Lambasting Sarawak Report for its pains, Ahmad Ibrahim again leapt to the defence of the PBB dominated state government by supporting the grand and optomistic claims that the state can rescue its financial fortunes by selling electricity to dream cities, as yet undrafted and unbuilt, over the border in Kalimantan.

In the process however, Ahmad Ibrahim further admitted to the wider financial crisis angrily denied by his PBB party managers till now, which is that the dire mismanagement by this political party of all Sarawak’s rich resources over 50 years has left the state high and dry with respect to its traditional revenues.

Just take a look at what well-off Ahmad Ibrahim acknowledged to the KTS controlled Borneo Post:

“While rubbishing news portal Sarawak Report’s allegation that Sarawak has wasted public funds on existing hydroelectric power dams, Ahmad pointed out that Sarawak can no longer rely on its traditional exports of timber as well as oil and gas.

“When the time comes, where we can only export less of our sawn timber due to pressure from Green Peace environmentalists and the Western World, when oil and gas resources are replaced or used less due to the rise in substituted fuel availability, or not the main source of preferred fuel for the future, which is likely within 10 to 20 years’ time, and/or when coal is no longer an acceptable commodity for our export, what is left for Sarawak? Affordable power or electricity supply,” [Borneo Post]

Blaming environmentalists for Sarawak’s timber exhaustion is a bit like blaming your priest after being arrested for committing sins, but there you go. This Chairman of the Taib family’s political party PPB is now on the record admitting that in less than a decade timber exports will have dried up.

Timber Crisis

In fact, Sarawak Report has seen evidence that the situation is far worse because timber will dry up quicker. According to experts who wish not to be quoted, timber supplies are already 70% less than what was available in 2000 and will be 90% less within two years.

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From → Malaysia Upclose

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