We warned you about 1MDB in 2011, PKR Youth hits back at Akmal

PKR Youth said that student debt could have been severely reduced, if it were not due to the 1MDB scandal which Umno ignored for years.

This is in response to Umno Youth chief Dr Muhamad Akmal Saleh, who yesterday poked at Pakatan Harapan for ignoring BN leaders saying that the country could not afford to waive National Higher Education Fund (PTPTN) loan repayments.

In a statement, PKR Youth communications director Haziq Azfar Ishak said Harapan had raised the 1MDB issue since 2011.

The investment firm quickly racked up debt over the years, while having its monies siphoned - some of which investigators say were channelled to then-premier Najib Abdul Razak.

In 2013, PTPTN’s debt was just RM20 billion, according to Haziq (above, left).

He cited PKR deputy president Rafizi Ramli, who argued that in 2013 they could have wiped PTPTN debt then, but not by 2018 when the amount had exceeded RM40 billion and is now at RM66.87 billion.

“It should also be remembered that the people also had to pay 1MDB debts totalling RM39.74 billion, even after the asset recovery.

“Wouldn’t it have been great if the billion that had to be spent on 1MDB debt could be used to reduce youth student debt by expanding the scope of exemptions even though it is now too late to wipe out PTPTN debt?

“However, what to do, just ‘roll’ with it,” Haziq added - the last line a jab at Akmal’s statement yesterday.

The issue started on Tuesday when Deputy Higher Education Minister Mustapha Sakmud said it is difficult for the government to waive PTPTN loan repayments amid the country’s financial situation.

Akmal then retorted that Najib and other Umno leaders had said the same thing, but were ridiculed and insulted instead.

‘Bulk of 1MDB debt paid off’

In a social media post today, Akmal brushed off Haziq’s criticism, saying the latter did not understand what he was talking about.

He then cited Najib spinmeister Eric See-To - posting as his alter ego Lim Sian See - arguing that the bulk of 1MDB debts - about RM24.2 billion worth - was paid off from funds that had been recouped by the investment firm.

Both See-To and Akmal, however, do not address the fact that much of the funds 1MDB borrowed were misappropriated and that the government not only has to pay the loan principle but also the interests.

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