Wee Meng said:
The entire sports hub was built via a PPP model, which is ridiculous. PPP only works when the country is in debt and needs the private sector to help in the financing. In our case, it is unfathomable that our govt has to "borrow" from private funding and hence subject to paying incredulous interests over the span of the 25 yrs contract, with tax payers' money no less. With our huge reserves, our govt can clearly finance it without having to incur huge interest payments.
The entire sports hub was built via a PPP model, which is ridiculous. PPP only works when the country is in debt and needs the private sector to help in the financing. In our case, it is unfathomable that our govt has to "borrow" from private funding and hence subject to paying incredulous interests over the span of the 25 yrs contract, with tax payers' money no less. With our huge reserves, our govt can clearly finance it without having to incur huge interest payments.
MY REPLY
I agree that it is "stupid" to adopt the PPP model for the Sports Hub. What to do ,when our ministers and top civil servants have no business or practical experience?
I agree that it is "stupid" to adopt the PPP model for the Sports Hub. What to do ,when our ministers and top civil servants have no business or practical experience?
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