Mahathirís announcement that the government will boost the KLSE by buying shares is deeply worrying


Media Statement
by Lim Kit Siang  

(Petaling Jaya, Wednesday): The announcement by the Prime Minister, Datuk Seri Dr. Mahathir Mohamad that the Government will buy shares to boost the Kuala Lumpur Stock Exchange whose composite index has slipped to a ten-year low  is deeply worrying.

It raises many fundamental questions, such as:
 

Before the government embarks on a new venture to use public funds to prop up the stock market, the government should give a full and detailed accounting on how the governmentís plan last September to establish a RM60 billion fund to prop up stock market prices had fared.
 
(19/8/98)


*Lim Kit Siang - Malaysian Parliamentary Opposition Leader, Democratic Action Party Secretary-General & Member of Parliament for Tanjong