Page 128 - Malaysia Baharu 2018
P. 128
MALAYSIAN ECONOMY STRATEGY 2:
Restructuring And Rationalising Government
Debt
Set up a Debt Management Office
Responsible for reviewing and managing the Government’s debt and
liabilities.
Shall have oversight over debt issuance by the Federal Government,
statutory bodies and Special Purpose Vehicles.
The Office will streamline Government funding sources as a whole.
Statutory bodies with surplus funds can help meet the funding requirements
of other agencies at a more competitive cost.
Track and publish the Federal Government debt ratios
To provide the necessary transparency to disclose the total debt and
liabilities.
Rationalising and reviewing existing debts and future debts commitments
Taken decision to cancel the RM15 billion Multi-Product Pipeline and Trans-
Sabah Pipeline projects.The construction of the RM81 billion East Coast Rail
Link (ECRL) is suspended and is pending renegotiation of the project cost.
Cancelled the RM60 billion Mass Rapid Transit Line 3 (MRT3) pending the
completion of Mass Rapid Transit Line 2 (MRT2).
Postponed the Kuala Lumpur – Singapore High Speed Rail (HSR) which
would have cost at least RM110 billion.
Terminated the Klang Valley Double-Tracking 2 project which was awarded
via direct negotiations and will be retendered via an open tender exercise.
126
Restructuring And Rationalising Government
Debt
Set up a Debt Management Office
Responsible for reviewing and managing the Government’s debt and
liabilities.
Shall have oversight over debt issuance by the Federal Government,
statutory bodies and Special Purpose Vehicles.
The Office will streamline Government funding sources as a whole.
Statutory bodies with surplus funds can help meet the funding requirements
of other agencies at a more competitive cost.
Track and publish the Federal Government debt ratios
To provide the necessary transparency to disclose the total debt and
liabilities.
Rationalising and reviewing existing debts and future debts commitments
Taken decision to cancel the RM15 billion Multi-Product Pipeline and Trans-
Sabah Pipeline projects.The construction of the RM81 billion East Coast Rail
Link (ECRL) is suspended and is pending renegotiation of the project cost.
Cancelled the RM60 billion Mass Rapid Transit Line 3 (MRT3) pending the
completion of Mass Rapid Transit Line 2 (MRT2).
Postponed the Kuala Lumpur – Singapore High Speed Rail (HSR) which
would have cost at least RM110 billion.
Terminated the Klang Valley Double-Tracking 2 project which was awarded
via direct negotiations and will be retendered via an open tender exercise.
126
