Home > PAP Not Transparent > Reserves


Reserves? What reserves? Nobody (except maybe the prime minister) ever saw that mysterious ‘reserve’.  The ‘reserve’ has been so sacred that it has been used as the ultimate reason is everything ranging from tax spending to housing policies.  PAP has been using the scare tactic about prudence in maintaining our ‘reserves’ so that we can deal with ‘difficult times’.

Since independence, who else, apart from the Prime Minister and maybe the Minister of Finance knows how much wealth the country has? When the first and only people elected President Ong Teng Cheong made the rare move in demanding how much reserves the country had, the reply the President got is it’ll take more than 56 man years to calculate the massive wealth of the country! WHAT RUBBISH!?? Is Singapore so rich? Or rather, is the PAP so obscenely rich? So you mean the reserves were never audited? Who manages the reserves? Who is accountable for our reserves? How much is our reserves? WHERE is our reserves?? Simple questions on transparency that was never answered. The reserves belongs to the nation, it belongs to Singaporeans, it DOES NOT BELONGS TO THE PAP!

And after the poor President did what he was supposed to do (how the heck do you expect him to guard something he don’t even know where is it and how much?), he was never given an answer, black listed by the PAP and rewarded with a non-state burial when he passed away even though he was the President. If a President does not deserve a state burial ceremony, who does? Maybe only Lee Kwan Yew and his offspring. What kind of logic is that?

  1. If Singapore has so much reserves, why does the PAP government fear spending them? Do you know how hard it is to spend something that takes more than 56 man years to calculate?
  2. If Singapore has so much reserves, does not the citizen deserve to be allocated some to help them in difficult times such as ever increasing inflation (such as NOW)? A one off payment of $4-800 hardly covers the increase in cost over 5 years.
  3. How much reserve is enough? The nation has been increasing our reserves over 45 years. So are the reserves invested? If yes, what are the returns and shouldn’t the returns be returned back to society leaving the principle unchanged? If the reserves are not invested, then why keep accumulating losing out on all the opportunity cost?

Can the PAP answer the above questions? If not, it is simply not accountable.

Conclusion: The PAP is deliberately hiding important reserves away from the citizens, and hiding away from the important questions, making absolutely no attempt to answer basic questions illustrated above. The wealth is not attributed to the citizens. The wealth is only accumulated for the sake of the ruling party. As such, it is an act of betrayal of the citizen’s trust, and with no intent to be accountable, it is therefore, corrupt.

If they are not corrupt, why can’t the PAP government be answerable to us on OUR reserves?

Categories: PAP Not Transparent
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