The NFC project development is indeed puzzling as to who is being accused of the misappropriation of funds and misuse of power.
Shahrizat was not the minister who allocated the project to Salleh, her husband.
Who was the minister of agriculture at that point of time? This is the person first who should be held accountable for the NFC project.
The agriculture minister, the deputy minister, the KSU and the director general of the agricultural department are the first group of people that must account for the project.
Investigations on who signed the loan agreement, what was the approval process, should be clearly presented to the public.
The process for the disbursements of the funds also needs to be identified.
Of course there will be idiots who justify that funds invested in apartments would yield better than keeping it in the bank is of no consequences to us, the rakyat.
If this was the argument then I could take the entire RM250 million and invest it in funds that yield about 8 percent (very easy) and make a 6 percent net yield based on a 2 percent soft loan interest.
This would mean I would make about RM15 million per annum out of nothing. Surely the government did not give out such loans at their whims and fancies.
There was a specific objective set for the NFC project and each objective must be quantitative with a set timeframe.
The due process of disbursement of funds is by meeting certain milestones such acquiring land for the farm, purchases of cows for the farm, purchase of feed for the cows etc, then the funds are released based on the expense incurred.
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NFC scandal: Focus on main players, less on Shahrizat
Jan 3, 2012 – Malaysiakini Letters
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