Public funds wasted by TEKUN for Umno

Following the disclosure by Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN) chief executive officer Abdul Rahim Hassan who claimed the national financing scheme was formed for Umno members, PKR today charges that the Malay ruling party has a debt totalling RM1 billion with TEKUN.

Citing a Feb 9 report by Umno-owned Utusan Malaysia, PKR communication director Fahmi Fadzil said TEKUN had loaned a whopping RM2.42 billion, with RM1.6 billion coming from federal government, to 237,173 entrepreneurs and only RM1.42 billion of the loan was recovered thus far.

Tallying the report with what was said by Rahim, Fahmi said the implication was serious as more than 40 percent of the loan given to Umno members, amounting to RM1 billion yet to be recovered.

“On average, that means a total of RM650 millions loaned to Umno members through federal government have not being paid back,” added Fahmi.

Citing the rising number of Bantuan Rakyat 1Malaysia recipients from 3.74 million in 2012 to 3.99 million to 2013, Fahmi questioned whether TEKUN has failed to achieve its objective to uplift the lower income group’s economic position.

“If yes, why?” he asked.

In his statement, Fahmi also proposed a measure to recover the loans.

“TEKUN and its CEO should open a counter to collect its debts during Umno general assembly this coming October 19,” he chided.

Meanwhile, PAS Shah Alam MP Khalid Samad said the ruling government must distribute aids to those who truly deserved without discrimination.

“Not only Umno members are paying tax, we are too. This (TEKUN) fund is not for Umno members, all bumiputeras should be eligible regardless of which party,” he told Harakahdaily. -HD