Mega projects should be delayed if PAP has insufficient funds in reserves

Mega projects such as the Tuas mega port, Changi Airport Terminal 5, etc cost tens of billion$.

Over the past few decades, the PAP should have accumulated hundreds of billons in reserves.  Reserves should be invested in infrastructure which will benefit future generations.

Since 2007, land sales revenue alone amounted to about $160 billion. (figures from budget statements)
1land salesIncluding investment returns, the figure should easily hit $200 billion.

Strangely, PAP behaves as if our reserves have been emptied and has been increasing costs for businesses and citizens.

Funds could have been raised by GIC through divestment of foreign assets.  Instead, the government continues to channel budget surpluses and land sales revenue into what many have suspected to be a black hole.

If Singapore does not have sufficient funds, wouldn’t it be better to postpone infrastructure expansion, similar to what the Malaysian government is doing?


This entry was posted in POLITICS. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s