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public accounts committee (%) chairman wong kah woh today raised concerns over the federal authorities’s mortgage hobby bills.
wong said of its general revenue accrued, 16.3 in step with cent went towards loan hobby bills.
“in different words, for each rm1 collected, 16 sen might be used to provider mortgage interests,” wong informed journalists at some stage in a press convention on the parliament building here nowadays.
this became considered one of p.c’s concerns highlighted inside the auditor-wellknown’s report at the financial statements of the federal authorities, country governments and state corporations for the 12 months 2021 that was tabled in dewan rakyat earlier these days.
wong also stated the percent is concerned with the federal government’s increasing debt, with debt in 2021 amounting to rm979.814 billion, an boom from rm879.56 billion in 2020 — 63.4 in step with cent of the gross home product (gdp).
he stated even though the auditor-standard’s certificates became issued without reprimand, some matters require the authorities’s attention.
wong stated these included the payment of matured loans using new loans and the reduction of improvement expenditure.
“in 2021, the authorities made gross loans amounting to rm217.201 billion, and fifty two.4 in step with cent or rm113.674 billion became used for the predominant price of matured loans.
“so what we will see here is, from the rm217.201 billion gross loans, simplest 28.7 in keeping with cent or rm62.317 billion became used for the reason of development fund.
“so in advance we spoke approximately rm62.317 billion transferred to the development fund, out of this range most effective rm40.994 billion was used for this cause,” stated wong.
he careworn that there has been a slight lower in percentage as compared to 2020 where rm37.530 billion or 77.three in keeping with cent was used for the development fund.
auditor-preferred datuk seri nik azman nik abdul majid, who was also gift at the clicking convention, said the increase in federal debt to rm979.814 billion changed into because of the rm217.201 billion gross loans.
“of route, if we observe the numbers from before, those loans have been continually made to finance the development fund.
“it’s far just that now, this year (2021) and the 12 months earlier than (2020), covid-19 came about, and a part of that fund become used to boost the economy and aid businesses that had been stricken by covid-19.
“we apprehend that, however we’re worried — the upward thrust in debt cannot hold and it approach that this need to be a quick-term measure.
“our view is that the authorities should take steps to remedy this count number in order to be extra conceivable,” he said.
nik azman brought that due to accumulated interest payments, for each rm1 sales that is collected, sixteen sen is used to pay hobby bills.
“this can not preserve, even though we apprehend this is transient, so our process as auditors is to increase the pressure on the matter,” he said.
