Losing political party won’t have right to state’s assets, warns Puad
Losing political party won’t have right to state’s assets, warns Puad
PETALING JAYA: An Umno Supreme Council member doubled down on his criticism of SG4 Group Sdn Bhd, a company set up by the Perikatan Nasional-led states, insisting that its establishment will be problematic.
Puad Zarkashi insisted that problems would arise if PAS were to lose in the next polls, despite the Islamic party’s secretary-general Takiyuddin Hassan assuring otherwise.
Yesterday, Takiyuddin said it would not be an issue if the four state governments, dubbed the “SG4”, wished to remain with the company, even if any of them were taken over by a different party.
However, in a Facebook post, Puad said political parties which were no longer in power would have no right to a state’s assets.
He went on to say that problems would arise for the company, if one of the states — who are the shareholders — were to cash out their shares, when there is a change of power.
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“The state which wants to pull out will demand a higher share price, but the remaining states will offer a lower price,” he said. “This is why it will be problematic.”
Puad went on to say that civil servants in state governments knew of the problems that would arise if there was a change in power and that was why the idea of a company jointly shared by the states was never mooted.
“Which is why it is merely a political gimmick.”
Puad was responding to Takiyuddin who said the former did not understand the different roles a government and company played.
Takiyuddin, who is also SG4’s executive secretary, said the company was not limited to the four states and was open to other states becoming shareholders.
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On Monday, former prime minister Dr Mahathir Mohamad, who is an adviser to SG4, said the initiative aimed to collectively advance the four states as they were not faring as well as others economically.
He said the formation of SG4 was not intended to bypass the federal government’s role but to support the states that had been left out from benefitting from the nation’s wealth.
Losing political party won’t have right to state’s assets, warns Puad
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