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Greece Bankrupt Despite Implementing the GST

KUALA LUMPUR, 27 Nov: Three Pakatan Rakyat (PR) Members of Parliament said that the implementation of the Goods and Services Tax (GST) will not be the cure to save Malaysia from plunging into the depths of bankruptcy.

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They also urged the Prime Minister, Datuk Seri Najib Tun Razak, to explain the country’s financial position and to reveal if Malaysia facing the risk of going bankrupt or is in a comfortable position.

According to Malaysiakini, the call was made by Rafizi Ramli (PKR-Pandan), Tony Pua (DAP-Petaling Jaya Utara) and Khalid Samad (PAS-Shah Alam) during a press conference at the Parliament lobby yesterday.

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Yesterday, Najib said that the country will go bankrupt if the GST is not implemented, and at the same time, the Deputy Minister of Finance, Datuk Ahmad Maslan, revealed that the country’s financial position is still strong.

“The GST will not cure everything. Hong Kong and the US do not have GSTs in place, yet they are not bankrupt. It is however different from Spain and Greece which implements the GST but is bankrupt,” said Tony Pua.


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