How to replace RM44b from GST, Najib asks Opposition (Updated)

PUTRAJAYA: The Opposition has no idea on how to replace the RM44 billion that the government raised from the Goods and Services Tax (GST) last year if the tax is scrapped, Prime Minister Datuk Seri Najib Abdul Razak said.
"The Opposition offer false promises that do not stand up," he said during his speech after witnessing the joint-venture agreement signing ceremony between Naza Group and France's Groupe PSA for the establishment of the Nasa Automotive Manufacturing (NAM) Plant in Gurun, Kedah at Perdana Putra, here, today.
"Under their plans, our credit ratings would be downgraded, borrowing costs for all will go up and Malaysia would lose its attractiveness as a destination for foreign direct investment. And it would be ordinary Malaysians who would suffer."
The establishment of NAM will benefit both groups and Kedah in becoming one of leading exporter of cars in the Asean region, he said.
"For NAM to become the export hub for regional countries and beyond, the volume of cars NAM is forecast to produce in 2019 is 18,000 units with another 21,000 units in 2020, generating revenues of RM724 million and RM967 million respectively.
"NAM will be henceforth producing world-renowned brands such as Peugeot, Citroen, DS, Opel and Vauxhall," he said.
The partnership, he said, will be a boost to the economy as it is expected to lead 70 extra local vendors over the next five years and will create 1,200 jobs in Kedah.
"At the same time, local vendors will be upgrading their skills, leading to knockout effects which benefit local industries and communities
"So this is another great example of the kind of partnerships Malaysian companies with global aspirations are forging under this government," he said.
Citing the partnership established between Zhejiang Geely and Proton, and the government's recent MoU for partnership with SK Group as those that create jobs, knowledge sharing and raise standards of living for the rakyat, Najib said such matters will never be heard from the Opposition.
"Every time foreign companies want to come here, they try to claim we are selling Malaysia off.
"We are doing nothing of that sort. They are trying to deceive the people," he added.
He further said these kind of partnerships are the ones that will help the people and contribute to successes we have seen under the Economic Transformation Programme, announced in 2010.
"The government will always take into account the long-term interest of the rakyat. This is why we introduced the National Automotive Policy in 2014," he added.