Gov't , people changing lifestyles differently
According to a report in the New Straits Times today, "it is estimated that 10 to 15 per cent of the 20,000 cabbies in the Klang Valley are civil servants" who have to moonlight "to make ends meet" (p.23). Meanwhile, PM Abdullah Ahmad Badawi has confirmed that his administration has "only leased" an executive jet worth millions "for the use of the government" in the process of denying that it is "purchased" for his own use "only".
Pak Lah smashes many more M'sian rice bowls
Pak Lah smashes many more M'sian rice bowls
posted by James Wong Wing-On at 10:30 PM
1 Comments:
The economic rationale for leasing is that the leasee does not have to carry the entire cash burden of the asset all at one go. The leasing company settles the entire initial cash cost, in return for regular payments on the lease - much like the hire purchase on your car.
It doesn't make sense at all in this case because the leasing company is also 100% owned by the government. The left pocket pays the right pocket.
It's just a financial magic show, at taxpayer expense.
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