Putrajaya Left With No Other Choice But To Use RM5 Billion From National Trust Fund

Finance Minister, Tengku Zafrul Abdul Aziz.

Theedgemarkets.com has reported that Putrajaya will be using RM5 billion from the National Trust Fund (KWAN) to cope with the impacts of the pandemic and to support the country’s immunisation plan.

Finance Minister, Tengku Zafrul Abdul Aziz said Putrajaya’s finances are nearing the limit with statutory debt level currently at 58 percent of gross domestic product (GDP). The ceiling has been kept at 60 percent.

He said the government had no choice but to tap into KWAN due to debt burdens arising from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and Private Finance Initiative (PFI).

Just two weeks ago, Prime Minister Tan Sri Muhiyiddin Yassin said the federal government’s coffers have thinned out due to the economic impact caused by the pandemic.

Putrajaya has issued a series of stimulus packages totaling RM340 billion and a RM322 billion allocation for the national budget in the country’s fight against the pandemic.

The Coordinating Minister of the National Covid-19 Immunisation Programme, Khairy Jamaluddin said the amount included vaccine procurement which involves an allocation of RM3 billion, and the implementation of the immunisation programme requires RM2 billion.

“The total expenditure related to the immunisation programme, includes the provision of facilities, utility payments and food preparation, as well as the allowances to staff involved,” he added.

Malaysia has vaccinated 1,290,414 individuals [including dose one and dose two] with Selangor being the highest vaccinated state in the country based on JKJAV’s statistics on April 25. 

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