Transport Minister Liow Tiong Lai yesterday explained that the East Coast Rail Link(ECRL) cost increase from RM30 Billion to RM55 Billion is partly due to the fall in Ringgit. Liow said the figures cited in the project’s feasibility study was based on 2009-2010 exchange rates.
He was reported saying “That time dollar is only RM3.2 to a dollar, now its RM4.2 and gone up to RM4.5.”
Works minister Fadillah Yusof has as recent as 27 July 2016, denied a report by Sarawak Report that the ECRL cost will be inflated from RM30 Billion to RM60 Billion to pay off 1MDB debts. He also denied that the increment in cost was discussed in cabinet.
What had happened in the span of 3 months that the cost of ECRL has almost doubled from RM30 Billion to RM55 Billion? Is Liow Tiong Lai or Fadillah Yusof lying? Both of them cannot be telling the truth on the RM25 Billion cost increase in ECRL.
If Liow is telling the truth, Fadillah Yusof denial that the ECRL cost will increase from RM30 Billion to Rm 60 Billion will be a big lie. The BN cabinet will also be one of the most incompetent and substandard cabinet in the world as three months before the signing of a multi-billion agreement, the cabinet is still unaware that the cost is calculated based on the exchange rate of 2009-2010 and subject to increase.
If Fadillah is telling the truth in July by denying the ECRL cost will be inflated from RM30 Billion to RM 60 Billion then Liow’s “exchange rate” explanation will be expose as a lie.
I urge Liow and Fadillah to both come forward and clarify as both of their version of explanation contradicts each other. It is time for Barisan National to come clean on the increment of the cost of ECRL.
Malaysians deserve to know why in the span of 3 months the cost of ECRL was inflated from RM30 Billion to RM55 Billion. Will the inflated amount be used to bail out 1MDB debts?
BN must come clean on the reason of the RM25 Billion cost increase and deny that the money will be used to bailed out 1MDB debts.
Media Statement by Chong Zhemin, DAP Perak Economic Developement Bureau Chief and Political Secretary to Taiping MP on 3 Nov 2016