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Salient. Victoria University Student Newspaper. Volume 37, Number 9. 1st May 1974

Economy built on quicksand

Economy built on quicksand

Dear Sir,

I will certainly not fall into the trap set by Henry Lawhutt! It is common knowledge to all Malaysians and our NZ friends that the identification of anybody who dares to speak anything against the government will put him in trouble. This is clearly evidenced from the large number of political prisoners in detention camps in Batu Gajah etc and the recent mass arrest of intellectuals and students from February this year, let alone the special branch and professional students in the campus at home and abroad.

He accused that the statistics given in FELDA scheme from 1966—1970 are outdated and grossly exaggerated. A radio report delivered by Tun Razak in 1968 touched on the tact that 'the government had succeeded in settling 14,000 peasants from the total of 760,000 landless peasant families'. Mind you, Mr Lawhutt, are you implying that the Prime Minister is 'blowing a lot of hot air in an attempt to incite a feeling of doubt in the minds of some people? You are plainly playing with figures but not delving into the contents of FELDA scheme.

It is clear that the FELDA scheme is solely for the benefit of foreign investors and the minority local parasites, and not for meeting the needs of the landless peasants, as illustrated in the article "Peasants will have to fight'. Yet, Malaysia 'is a paradise for the foreign Investors', but foreign investment brings hardships to the people's livelihood. Mr Lawhutt, do you know that up to now each one of us owe about $(M)600 in foreign debt (Straits Times 8.12.72)? If the foreign aid is for the mutual benefit of both countries. I, for one, will whole-heartedly support the joint co-operation. But in reality such is not the intention of the present foreign capitalists in our country who are extracting cheap labour ($(M)l.00 per day for a local factory worker quoted by Tun Tan last year) and to gain complete control over our country's economy (over 70% of our economy are in the hands of foreign investors).

Referring to Malaysian Digest, nearly all the foreign capital exceeds $(M)1 million and hence enjoy tax holidays of at least five years. Moat of the profit flows abroad, for example Britain alone extracts $(M)2,200 million each year from investment in Malaysia, this constitutes more than half our country's 1972 budget spending. Therefore we can say that officially the Razak government, is budgeting $(M)4.092 millions for the Malaysian people, while unofficially they are budgeting $(M)2,200 million for the British monopoly-capitalists. Hence our economy is built on 'quicksand'.

My advice to Mr Lawhutt is to go deep into the context of the problem in Malaya and not Judge things superficially. If not, he will become a running dog of the allied Razak clique who are the stumbling block to the progress of Malaya!

Tongin