(May 12): PKR today has raised concerns over Putrajaya's “over-enthusiastic” effort to save debt-ridden 1Malaysia Development Bhd (1MDB), saying that it is not impossible for Datuk Seri Najib Razak's administration to even go as far as printing more cash to manage the company's debts.

Party president Datuk Seri Dr Wan Azizah Wan Ismail said if this was to happen, it would plunge the value of the ringgit even lower, causing further hardship on the people, given that most essential items were imported.

As such, she urged Bank Negara Malaysia to maintain its professionalism and ward off any attempt that could further devalue the ringgit.

"The over-enthusiasm of the prime minister's administration to save 1MDB without any concern for the people's sensitivity is very worrying.

"It will not be impossible to imagine them printing more ringgit to manage 1MDB's debts after all other funds belonging to the people have been used up," said the newly re-elected Permatang Pauh MP.

She said the land deal between 1MDB and Lembaga Tabung Haji was questionable because the money used belonged to those who had saved up to perform a religious obligation – the haj.

"The high price must be questioned, whether it is a legitimate transaction based on market value or just a 'show' to raise funds to help 1MDB settle its debts.”

She said further to this, it came as another shock when Retirement Fund Incorporated (KWAP) became the willing buyer in the controversial deal.

Dr Wan Azizah said she regretted the way Putrajaya was willing to sacrifice the people's money to to rescue the prime minister's failed venture.

"As it is, the people's income is not going up. On top of that, they are being robbed by taxes such as GST.

"Now, the money they saved up for the future (in Tabung Haji and KWAP) are also being used indiscriminately to save 1MDB which has only profited certain cronies," she said.

Tabung Haji's purchase of the plot of land for RM188.5 million from 1MDB for the purpose of building a residential tower has created uproar among its depositors.

Opposition leaders, meanwhile, were quick to note that Tabung Haji was paying far more per square feet (psf) than what 1MDB paid when it first bought the land from the federal government, leading some to call the deal a "bailout" given 1MDB's massive debts.

On Saturday, the fund announced it was selling the land it purchased from 1MDB, following public outcry over the deal.

Tabung Haji chairman Datuk Seri Abdul Azeez Abdul Rahim said Najib had advised to dispose of the land so that the fund's reputation would not be "tarnished" because of its business transaction with 1MDB, and to respect the "sensitivity" of the depositors. – The Malaysian Insider