AG audit proposes cap on Putrajaya debt guarantees
By : The Star
Published On: 2019-10-14
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08:42
The government should develop a policy that can limit government guarantees on a case-by-case basis to contain its debt burden.
Auditor-General Datuk Nik Azman Nik Abdul Majid said this is the recommendation put forward in the Auditor-General's Report 2018.
He said the audit highlighted as an Emphasis of Matter that in 2018, the federal government advanced RM2.839 billion to five Minister of Finance Incorporated (MoF Inc) subsidiaries for the purposes of loan repayment.
However, he said the ability of these five companies to repay the advances cannot be ascertained.
The report is available on www.audit.gov.my.
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