AG audit proposes cap on Putrajaya debt guarantees | TheStarTV.com

AG audit proposes cap on Putrajaya debt guarantees

Published on 14 Oct 2019 6:04:05 PM

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.

Keywords
audit, auditor general, financial statement, government audit report, pac, public accounts committee

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.

Keywords:
audit, auditor general, financial statement, government audit report, pac, public accounts committee

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