Malaysians are living on ‘hutang’ all the way to their graves, Thanks to BN

J. D. Lovrenciear

After giving BN the undisputed power to govern Malaysians and their land for five decades, what is the precipitate end result that we are yoked with?

Any tries?

Here is a general list for the readers’ diet to assimilate and respond:

Malaysians are living on ‘hutang’ all the way to their graves.

To get married there is that advance you take from your company or take a personal loan.

To start up house on getting married you go to Courts to buy on ‘lowest repayment’ schemes that stretch over two to five years.

Then you need a small car to begin with. But that would mean another ‘hutang’ that probably takes you seven to 15 years to settle. And by that time, your car would be a safety liability not to mention the big hole it would have punctured in your purses on maintenance costs if you had still kept it. Made in Malaysia cars do not last like that good old Opel Gemini of the 1960s you know. Neither do the 'celup' spare parts that is widely sold these days.

So, by the fifth year of borrowing, you may need to trade in the vehicle for a fraction only to end up forking some more money to top up the minimum payment for another new car. And now you are on ‘hutang’ again for another seven to nine years. By the time you near the final repayment on the loan, you would be having two to three children in tow to feed, provide healthcare and pay for the maid of course.

Oh yes the house. What is life without your ‘own’ roof over the head, the in-laws would lament. So there you go again forking out some down-payment by drawing down a portion of your seemingly old-age savings called EPF and hey presto, you are now on ‘hutang’ for the next 15 to 20 years of your life.

Halfway through your house ‘hutang’ you make a mortgage of sorts and now you will be on an extended ‘hutang’ phase that promises probably to end just as you retire. Mind you the retirement funds from your EPF most likely will see a sizeable amount going into the full settlement of the housing loan.

But by now your house is leaking, the fences have caved in, the paintwork is gone, the roof is leaky, the doors cannot close, the toilet is unbearable, and so you need more money to get the jobs done. As you know too well these days they do not build house like the colonial buildings of by gone eras. Cutting corners is must to keep the economy alive.

‘Never mind lah, you have some EPF savings in hand so let’s get the job done’ says your spouse and you do it for it is the only roof you have and you can call it all yours now.

But the taman where your home is, is deteriorating. It happens all the time and everywhere does it not over time? But to sell off the house and buy another and start all over again - that is not for you for you are retired, mate.

Soon that EPF and any other savings you would have frugally gathered over the long and toiling years is also gone. But you can take up a jaga’s job if it has not gone to the Nepalese or Bangladeshi. and that is the only hope you are left with anyway.

Now how about the next generation that is growing up?

Oh, their ‘hutang’ saga starts even earlier. They need to get a study loan, remember? And it has to be paid back as soon as they start working.

But given their meager salary that hovers within the RM1,500 to RM2,000 bracket, and the rising cost of living, a credit card is a life saver – so says the banker. And with that, ‘hutuang’ now grips the young early in life.

And who says we are not living on ‘hutang’? Look at the black and white posters glued on the walls of buildings, the pillars of underpasses, train station benches and what have you. It’s attraction: even blacklisted and bankrupted citizens can now borrow!

And borrowing is said to be made hassle-free as long as you have an ID and are willing to part with a sizeable commission disguised as processing fee. So, ‘hutang’ again to tide through some misfortune you may suffer. What you do not realize is that this ‘hutang’ literally sucks your blood but it cannot be controlled and removed by BN. Their leaders can only keep repeating that "you must not borrow from loan sharks (never mind if we allow them to operate in broad daylight)."

So in the end the hard working citizen needs to take on extra jobs or find ways to cheat his way through.

And you do not need to turn into a pistol totting robber. You can sell make-up, Tupperware, cookies and what have you while still on an eight-hour salaried job. It is happening everywhere from government corridors to private offices. No? Where have you been then?

Or you can drive your health into the ravine by moonlighting with part-time taxi driving or selling nasi lemak by the roadside after work and on weekends. This will be praised by BN as ‘enterprising’ or like they always say it ‘rajin nya’.

In summary, the ‘hutang’ is the legacy that BN has dished down to Malaysians over a fifty year reign. Forget about the oil money. That is for development, fellas!

But of course those born with a silver spoon will not agree. They will bet their bottom dollar that they buy cash. They will admonish, “you borrow, you pay lah!”

And then there are others who will argue that ‘hutang’ is part of life. “Everyone borrows, mate. Tell me who does not?”

The point is: Malaysians (the vast majority) have to borrow and keep borrowing to see through their entire studying and working lives. And when they retire, they are left in a ditch as what they saved is just about enough to clean off all ‘hutang’.

Ahhh, so much for development and the so-called BN’s miracle of progress. Wrong? Then prove it be otherwise please.