Comments for Commentary: BN’s future rests on Anwar’s case at http://www.malaysianbar.org.my , comment 0 to 1 out of 1 comments http://www.malaysianbar.org.my Thu, 04 Dec 2008 08:35:53 +0100 FeedCreator 1.7.2 http://www.malaysianbar.org.my/opinions/comments/commentary_bns_future_rests_on_anwars_case.html#pc_7347 So, the thrust of my fears is well-placed. The economic challenges posed by the external situation and our response together with the rise in the price of petrol and its spillover effects in our internal situation indeed pose grave threats to our economic survival as a nation-state. Appended, please find my fears expressed in "Press Release: Allegation of Bar Council's involvement is untrue": "CAN WE AFFORD THE POLITICS OF CONFRONTATION "Written by Stephen Tan Ban Cheng, 16 July, 2008 at 09:04 pm "The arrest of Anwar Ibrahim and the warrant of arrest issued against Raja Petra mark a turning point in domestic politics. We have departed from the politics of accommodation to the politics of confrontation. "It will do well for partisans to now take a breather and question whether our country can afford this politics of confrontation, although it is admitted that the nature of Malaysian politics is that the winner takes all. "Externally, just look at the continuing and deepening sub-prime crisis in the United States. What are its implications for our country? "Internally, just look at the adverse impact of the sudden oil price increase and what it means for the average Malaysian family in terms of their ability to continuing paying instalments on their apartments, cars and even allowances for their school-going children. "The immediate outlook seems to be dismal because, unless something is done to mitigate the adverse impact, I am expecting a lot of non-performing loans in the next six months involving apartment buyers. "The cost of our manufactures has also gone up, thus blunting our competitive position in the international market. "I seem to recall that when Tun Hussein Onn was the Prime Minister and when the steel industry asked for a 10 per cent increase in the price of steel bars, his immediate retort was to ask whether this was an attempt to sabotage our nation and its economic development. "Today, the price of steel has gone up roughly from its previous RM2,000 a tonne to nearly RM5,000 a tonne, a more than 100 per cent increase. "My Good Shepherd, what am I to think of this steel price increase when the rural areas have hardly been developed? I am not even talking about the increases in petrol, rice, cooking oil, fish and vegetables. Forget about the increase in the price of photostat paper!" It is now incumbent on our Government to take all Malaysians into its confidence and tell us the nature of the threats and how these can be overcome. I understand that measures would be taken soon to soften the spillover effect of the petrol and diesel price increase. How about our foreign exchange (forex) reserves exceeding US$100 billion (RM330 billion)? What measures are being taken to ensure that its value will be retained and preserved should there be a free fall of the American greenback? Why is it that some of our Members of Parliament are not posing questions such as these? Are they not the guardians of our national interest? Stephen Tan Ban Cheng - Stephen Tan Ban Cheng Fri, 18 Jul 2008 19:52:09 +0100