Taxes or GST will not be used for 1MDB.
KUALA LUMPUR: Any form of “bail-out” will not get any approval or agreement from the Cabinet, assured Minister of Communication and Multimedia, Ahmad Shabery Cheek.
Shabery told the media that the Cabinet often discusses and questions, and voices disagreements on matters brought before it, and that includes 1MDB.
“The one important thing that we (Cabinet) all agree on was that 1MDB does not affect Malaysia as a whole,” he said. “Also, there will not be any bailout or use of public funds, to resolve the problems (of 1MDB). That is clear.”
The standby credit issued by the Ministry of Finance to 1MDB will be paid back in full, he added. “The Cabinet will not compromise on the matter.”
Shabery supports Prime Minister Najib Abdul Razak and 1MDB’s plans which include the development of Bandar Malaysia.
He said, as an example, that Jurong East in Singapore as the site for a high speed railway terminal, saw an exponential increase in real estate value, something he was sure will happen to 1MDB’s Bandar Malaysia, where the Malaysian high speed railway terminal will be built. “It will be developed to be a thriving economic centre. It has to be developed in a modern and sophisticated way by 1MDB.”
“I fully support it. It will satisfy all the claims that have been made. It happened in Jurong East.”
Shabery quashed rumours of a purported “walk-out” from a Cabinet meeting. “Those reports are not true.”
He explained that it was sheer coincidence that he was with Deputy Prime Minister Muhyiddin Yassin at the KLIA.
On the governance of 1MDB, Shabery said that he was also keen to get the facts, and added that’s why the Cabinet called for the scrutiny by the Auditor General and the Public Accounts Committee (PAC)
“All Cabinet members agreed to this. So, the public don’t have to worry that revenue from taxes or GST was being used to bailout 1MDB,” he said.
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