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In another swipe at govt for scrapping HSR, Najib compares its benefits to North-South Expressway's

KUALA LUMPUR — In an emotional two-and-a-half minute video on Sunday (June 3), former Malaysian prime minister Najib Razak compared the benefits of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project to those of North-South Expressway (NSE), which had opened up and developed the West Coast of Peninsular Malaysia.

KUALA LUMPUR — In an emotional two-and-a-half minute video on Sunday (June 3), former Malaysian prime minister Najib Razak compared the benefits of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project to those of North-South Expressway (NSE), which had opened up and developed the West Coast of Peninsular Malaysia.

Datuk Seri Najib drew comparisons between the high cost and debts needed to finance the NSE and the expense for the HSR, which he maintained is around RM70 billion (S$23.55 billion).

He said the debts incurred to pay for the NSE was still being serviced now even though the iconic highway was built in 1988.

There are still 25 years left to pay off PLUS’ debts, Datuk Seri Najib added, in an attempt to counter the new government’s argument that the HSR had to be scrapped because it’s debts would take too long to pay off.

“But how would the Peninsular West coast have been developed without the (NSE)?” Datuk Seri Najib, whose administration had launched the HSR project, said in his latest attack on the new government over its decision to scrap it. 

He has made similar claims in the past about the HSR, saying that it would spur development along its alignment from Sungai Besi in Kuala Lumpur to Negri Sembilan, Malacca and Johor. 

In Sunday’s video, which was uploaded to his Facebook page, Datuk Seri Najib argued the HSR would increase the value of surrounding land, generate 442,000 jobs, lead to technology transfer and boost local tourism.

"The source of income generated from the HSR would also surpass its ticket sales," he said in the video.

Studies by the former Barisan Nasional government, Datuk Seri Najib said, had shown that the HSR could contribute RM209 billion in gross domestic product, which surpassed its RM70 billion price tag.

The new Pakatan Harapan government however, estimates the HSR’s cost at RM110 billion.

Datuk Seri Najib said that he was appalled by the government’s "hasty" move to cancel the HSR.

"I am shocked as to why (Prime Minister) Dr Mahathir Mohamad had recklessly said that we are not going to make one single cent in profit and will have to pay the Singapore government RM500 million in compensation," he added.

"He should instead be responsible and conduct a thorough study and give a comprehensive explanation to the people and the investors on the cost and benefit of the project as a whole.

“Not by giving out simplistic and shallow explanations,” said Mr Najib, adding that the new government should not take the public’s trust lightly.

“The people are smart in evaluating. That's all from me," he said at the end of the video.

This was not the first time Datuk Seri Najib has criticised the new government for scrapping the HSR.

On May 30, he said cancelling the project will result in the Pakatan Harapan (PH) government missing out on around RM650 billion in Gross National Income (GNI) and some 442,000 job opportunities.

He added then the decision to undertake the project was based on a detailed study, carried out for years, by both Malaysia and Singapore that proved to be advantageous to both countries socially and economically.

“I hope decisions will not be made while clouded by emotions, as only the people will lose out in the end,” he said.

He also questioned how the new government derived the cost of the project to be RM110 billion, an issue he again took up on Saturday by directing it at Finance Minister Lim Guan Eng, who had said on Thursday that the former premier had not included interest charges in his calculation.

“How he (Mr Lim) arrived at this figure is unclear as the international tender which requires those participating to propose their financing packages only closes in December 2018,” Datuk Seri Najib said on Saturday.

"In the course of previous discussions, various participating parties had earlier indicated that they are able to propose low-interest or even no interest financing packages similar to what was offered to India."

Last week, Dr Mahathir said the 350-km HSR had to be cancelled as it did not benefit the country and the government has to drastically cut spending and investment to “avoid being declared bankrupt”.

To be completed in 2026, the project would have cut travelling time between Kuala Lumpur and Singapore to 90 minutes, from about four hours by car.

It had been touted by leaders from both sides of the Causeway as a game-changer that could bring about closer ties between the two countries and their peoples. AGENCIES

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