KUALA LUMPUR: The government will set up a `Debt Management Office to review and manage its debts and liabilities.
In unveiling Budget 2019 at the Dewan Rakyat today, Finance Minister Lim Guan Eng said the office would oversee the debts of the federal government, statutory bodies, and special purpose vehicles (SPV) companies, holistically.
"The government wishes to prevent the occurence of paying debts that are too high due to weak coordination.
"This office would also optimise the government's resources on a whole, to concentrate fund management so that stautory bodies with extra funds can fulfil the financing needs of other agencies at a more competitive cost," he said.
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