GLCs investing in bloodsucking industries, says Chin Tong

Source : Free Malaysia Today   Sheith Khidhir Bin Abu Bakar | September 30, 2017

KUALA LUMPUR: DAP central executive council member Liew Chin Tong has accused government-linked companies (GLCs) in the country of squeezing the middle class of their income.

Speaking at a forum entitled “Envisioning The Future Beyond GE14” here today, Liew, who is also MP for Kluang, said the country’s GLCs invested in industries that pinched the pockets of Malaysians, citing the healthcare industry as an example.

“In Malaysia we have a two-tiered healthcare system where if you have money you go to private hospitals and if you don’t, then you go to government hospitals.

Envisioning the Future : Malaysia Beyond GE14

Malaysians are confronted with three issues that impacts on the quality of life and standard of living of the various key sectors of the population: youths stuck with spiraling debt, workers facing stagnant wages, and patients confronted with a rising cost of healthcare.

At the heart of these problems is the widening inequality in the country, one that is skewed in favour of the rich.

At present, at least 11 youths go bankrupt daily because they are unable to pay their education and housing loans. 57% of parents go into debt to pay for their children’s education loans. The loans are subsequently transferred to their children who are burdened with debt even before they secure employment.