What Is The Real Reason Behind Privatisation Of IJN?

1. What is not working well with the IJN that it needs to be privatised? Nothing! "Health Minister Datuk Liow Tiong Lai said IJN’s present method of operations would continue." The rakyat should ask the question, If nothing is wrong with the IJN, what is the real reason behind the privatisation?
Is it raise the fees and in effectively suck more money from the poor malaysians who have heart problem?

2. The government says it will regulate fees at IJN. It didn't say it will make sure the fees stay the same or lower it. So be prepared to pay more fees. Even during economic downtimes, the government is trying ways to suck every penny out of the rakyat, instead of helping the rakyat. Stop the antics that the government is helping the rakyat by lowering the price of petrol. At the current price of RM1.80 per litre, the government is profiteering billions of dollars out of the rakyat. Talk about government cheating it's own people. Stop the antics that Petronas is getting less profit also due to the falling petrol price. That is none of the rakyat business because we are not managing Petronas.

3. The government says that it will regulate fees at IJN even if the heart hospital is privatised. Make sure you keep to your word! Else the rakyat will make you eat your word at the next election.

Government to regulate fees at IJN even if heart hospital is privatised

KUALA LUMPUR: The National Heart Institute’s (IJN) fees will continue to be regulated by the Govern­ment even if it is privatised.

Health Minister Datuk Liow Tiong Lai said IJN’s present method of operations would also have to continue.

“I would like to reiterate that the fee structure is currently set by the Government.

“It will be the same, even in the future, so IJN cannot charge higher than what is allowed by the Govern­ment,” he said when asked of reports of Sime Darby Bhd making a bid for a stake in IJN.

He was speaking to reporters after visiting patients Chen Winnie, 23, and Tan Geek Koon, 40, who are both awaiting donor hearts.

Liow said his ministry would look into the social aspect of the privatisation plans to make sure that the patients’ interests are taken care of.

“There are a lot of Government requirements that they (Sime Darby) will have to fulfil,” he said.

He said that currently about 80% of IJN patients were subsidised by the Government.

Asked if that would continue even with the privatisation, he said: “Yes, that will continue, definitely. That is the prerequisite. It won’t change anything.”

He said the objective for the setting up IJN was very clear, which was to serve Malaysians from all walks of life and IJN would have to continue fulfilling that purpose.

MCA deputy president Datuk Seri Dr Chua Soi Lek, however, hoped IJN would not be privatised.

The former Health Minister told a press conference at Wisma MCA here that, apart from promoting Malay­sia’s good name in the eyes of the world, the institute had done a lot in helping the poor in the country.

MIC president Datuk Seri S. Samy Vellu said the party hoped that the Government would not privatise IJN.

He said the privatisation would cause hardship to the poor although Sime Darby has assured that it would not burden the poor.

GDP may grow below 3% next year

KUALA LUMPUR: The Malaysian Institute of Economic Research (MIER) may be revising its forecast of 3.4% gross domestic product (GDP) growth for next year to less than 3%. (On Nov 5, 2008 - GDP for next year is estimated to be 3.5%)

According to executive director Datuk Dr Mohamed Ariff Abdul Kareem, Malaysia will not be insulated from the dismal global outlook and some of the assumptions behind its earlier projection were now being challenged, especially with regards to the worse-than-expected growth rates of the US, Europe and Japan.

“The picture looks more severe than it appeared at first,” he told reporters after the MIER National Economic Outlook conference 2009-2010 yesterday.

He said chances were the forecast would be downgraded but it would depend on the information from upcoming MIER surveys.

“We need to take another look at the numbers and we need a basis to do that. We think the fourth quarter survey we are conducting this month will provide us this basis,” he said.

By the looks of it, next year’s GDP growth may be revised a little downwards but Malaysia would still be able to weather the storm because there were a lot of mitigating factors, he added.

Asked whether the overnight policy rate (OPR) should be further revised, he said: “I think the 25 basis point reduction is not sufficient. But to reduce it by 50 basis points at one go may have adverse implications for the ringgit. In that sense, Bank Negara was wise enough to do it in a gradual way.”

He said the OPR could be revised to a little lower to 3% because the situation now was far more serious than in 2005 when interest rate was only 3%.

“With inflation coming down considerably, we think there is some space for lower interest rates,” he said, adding that he expected OPR to be slashed by another 25 basis points at the next monetary policy committee meeting.

While he expected the banking sector margins to be affected, he said banks were still well capitalised to ride this out.

‘Their profit performance has been fairly good. Banks in Malaysia are in a far better position compared with banks in the region,” he said.

He said the RM7bil stimulus package unveiled last month as a measure to stimulate domestic demand was not quite sufficient.

“The RM7bil stimulus package is nothing. It is very small. The situation is far more tense and we are worried about job losses. The Government should do everything it can to address job losses as it has a cumulative effect on the economy,” he said.

He expected the manufacturing sector, especially those involved in assembly activities, to be affected by job losses.

The construction sector was also expected to taper off, he said.

“I think we will feel the heat of this crisis by the middle of next year. I don’t see any traction until mid-2010 or 2011. All indications are that the US is not going to recover in two years,” he said.

For MIER reports click here

Source: http://biz.thestar.com.my/news/story.asp?file=/2008/12/3/business/2705054&sec=business