Set a ceiling on loans, avoid high govt debt — Auditor-General

Set a ceiling on loans, avoid high govt debt — Auditor-General

The Edge Markets - Malaysia·2019-10-15 01:26

KUALA LUMPUR (Oct 14): The government needs to impose a ceiling on a guarantee for loans offered by statutory bodies and companies in order to avoid increasing government’s debt if the latter is facing difficulty in fulfilling its obligation.

In making this call,  Auditor-General Datuk Nik Azman Nik Abdul Majid said the recommendation should be given attention to the follow-up the 2018 Audit Report on the federal government's financial statements which found that loans made by five companies under the Minister of Finance Incorporated could not be paid back accordingly.

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