PM releases proof of Felda debt waiver, demands Muhyiddin's apology
Prime Minister Anwar Ibrahim has furnished partial documents proving that he had signed a debt waiver scheme for Felda settlers.
This is after Perikatan Nasional chief Muhyiddin Yassin demanded proof that this had occurred.
The documents were an assignment for Financial Service Reserve Account (FSRA), as well as a sukuk issuance order.
"(With this proof) I demand that Muhyiddin apologise for the slander against me," Anwar said in a statement.
In his speech at the Felda Settlers Day reception in Serdang on July 7, Anwar claimed that an initiative to restructure and forgive Felda’s debts under Muhyiddin’s administration was promised but never materialised.
The Pagoh MP had dismissed Anwar’s claims as a lie, citing a parliamentary reply from Minister in the Prime Minister’s Department (Law and Institutional Reform) Azalina Othman Said on Feb 23 that the waiver was carried out in 2021, though the present government is unable to continue what he started due to cash flow problems.
Despite Muhyiddin’s denial, Anwar doubled down on his claim the following day, saying that there was no allocation in the 2021 and 2022 federal budgets to waive the RM8.3 billion in debt.
This prompted Muhyiddin to issue a letter of demand, demanding the premier prove his claims as well as an apology.
In response to that, Anwar released the documents today.
The FSRA signed by Anwar. Felda and the Finance Ministry on June 26 gives Felda a government guarantee.
The Finance Ministry, in a separate statement today, reiterated that the agreement was to give an RM9.9 billion government guarantee to Felda to restructure its debts through sukuk issuances and credit rounds.
It said the government would finance the buyback of the sukuk through the issuance of RM990 million in grants each year for 10 years.
The ministry added that the first issuance was done on July 18 - as per the document furnished today.
How did Federal Land Development Authority (Felda) debt accumulated?
ReplyDeleteThat's the question none of these politikus r willing to truly answer & take punitive actions.
In a white paper published in April 10, 2019 identifying the financial issues faced by Felda and the measures needed to improve its cash flow position, the main culprits had been acknowledged.
Felda's financial problems began when it listed FGV Holdings Bhd, where they received RM10.5 billion cash proceeds from the initial public offering.
Felda got RM6 billion but they spent it on things that are not productive. Similarly FGV received RM3.5 billion but they invested in overpriced plantation.
This tells us that governance is the root cause and even if they manage to waive the RM8.3 billion worth of settlers' debt, there is no guarantee for success in the future. Same problem might reoccur.
Giving governing power to hp6 giatunas mavericks & kabel-connected know nothing is one of the REAL bolihland banes under the f*cked ketuanan narratives!