Putrajaya withdraws guarantee for Penang LRT loan


Finance Minister Tengku Zafrul Tengku Abdul Aziz says the decision to withdraw the guarantee is in line with the revised revenue and income projections for the country in view of the Covid-19 crisis. – The Malaysian Insight file pic, November 28, 2020.

THE Perikatan Nasional government has pulled the plug on the previous Pakatan Harapan administration’s promise to guarantee a RM2.04 billion loan the Penang government needs to help finance its RM9.5 billion light rail transit (LRT) project, reports The Edge Markets.

In a parliamentary written reply dated November 25 to Tanjong MP and Penang chief minister Chow Kon Yeow, Finance Minister Tengku Zafrul Tengku Abdul Aziz said the decision was in line with the revised revenue and income projections for the country, as well as the government’s focus to restore the economy, following the Covid-19 pandemic.


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Comments


  • The first salvo right smack at your door step for agreeing with the budget, big mistake anyway it's already too late so just faced the music and hopefully let this be a good lesson.

    Posted 3 years ago by Teruna Kelana