31 May '12, 4pm

Dissecting the ETP Annual Report (Part 1) — Grade A+ for obfuscation!: — Ong Kian Ming and Teh Chi-Chang The Mal...

— Ong Kian Ming and Teh Chi-Chang The Malaysian Insider May 31, 2012 MAY 31 — Top marks for befuddling even highly-qualified Malaysians. PEMANDU released its annual report last month to an expected chorus of praise. An economist at a leading financial institution gushed that the ETP deserves an “A” for transformation. Our analysis however, finds that pretentious words and slick presentations, protestations of diligence and toil and selective representation of data obscure the true picture. Real GNI grew only 4.7 per cent last year. This is well below the 6 per cent per year growth rate called upon for the duration of the ETP. Nominal GNI growth, which includes inflation, was 12.3 per cent. But inflation does nothing for our real quality of life, and it is only because inflation was higher than expected that the nominal GNI growth rate hit double-digits. PEMANDU’s GNI “targ...

Full article: http://blog.limkitsiang.com/2012/05/31/dissecting-the-etp...

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