GEORGE TOWN: Finance Minister Lim Guan Eng said he welcomes requests from any state on applying for soft loans from the Federal government, including the one expected to be made to fund Penang Transport Master Plan (PTMP).
However, he said that the ministry would have to make full assessment, including considering the country’s financial situation, before granting the loans.
“We welcome any state to apply for the loan but we have to make full assessment before approving. “It will take time, we will have to assess the application as well as the entire financial situation,” he said at a press conference here today.
He was responding to the announcement by Chief Minister Chow Kon Yeow that the state government would consider requesting RM1 billion soft loan from the Federal government in order to expedite the implementation of PTMP.
Chow said the soft loan would allow both the Pan Island Link (PIL) and the light rail transit (LRT) system projects to be implemented simultaneously, so as to ensure the people can start enjoying the new facilities within five to six years.
The PTMP project, which was announced in 2015, would consist of the LRT, undersea tunnel and three paired roads.
The project would be funded through the reclamation of three man-made islands, with the size of 809ha, 526ha and 324ha respectively, for industrial, housing and commercial purposes.
Meanwhile Lim revealed that the review for Bantuan Sara Hidup (BSH), formerly knows as the 1Malaysia People’s Aid (BR1M), would be conducted next year.
The ministry would be looking mainly at the eligibility of the recipients.
“Only the ones who are eligible should get it, not (given) to those who do not qualify as it is not only unfair but also wrong.
“We do not want the money to be wasted. The third payment to be made is huge, about RM1.6 billion,” he said.
On a separate matter, Lim urged former Prime Minister Datuk Seri Najib Razak to prove that former 1Malaysia Development Bhd (1MDB) president and chief executive officer Arul Kanda Kandasamy took a pay cut to help the debt ridden company.
“As far as we know, we have not found any evidence Arul Kanda was paid more than RM5 million over six months at private sectors before he joined 1MDB.
“So far it has been said that he took a pay cut but there is no evidence to support the statement. So I will wait for Najib to provide us the proof - can be anything, even a payslip,” said Lim.