Many friends asked me how much is RM286 million after reading "The Selangor GLCs lost RM286 million" in this blog.
Well, just take the Selangor state government budget for 2005 as a reference since the said losses incurred by the GLCs was for the year 2005.
The total budget for Selangor in 2005 was RM1.08 billon which means RM286 million is almost one-third of the state budget for both adminstration expenditure and the developement expenditure.
Out of RM1.08 billion, RM540 million was set aside for development expenditure, which means RM286 million is about half of the allocation for development purposes in Selangor for 2005.
Selangor allocated RM125 million to build and upgrade roads and bridges. RM286 million is slightly more than 2 times the allocation.
Another RM 57.5 million was allocated for the Drainage and Irrigation Department (DID) for projects such as flood mitigation, upgrading of drainage and irrigation system in residential and industrial areas ect. RM286 million is about 5 times the money set aside for the said projects. If more allocation is taken out from this RM286 million for the projects, it is strongly believed that Shah Alam would not have been flooded on February 26.
Only RM2.8 million was allocated for town and country planning in 2005. RM286 million is about 100 times the allocation. No wonder our town and country planning is in a very sorry state.
So much is your RM286 million, down the drain!