Gov't to reduce China borrowing to avoid bankruptcy

The government plans to reduce borrowing from China to avoid the country from spiralling into bankruptcy.

Prime Minister Dr Mahathir Mohamad said this will be among the matters that he will discuss during his visit to China next month.

He said this to reporters when asked about his agenda for the upcoming visit during a press conference at the Bersatu headquarters in Petaling Jaya today.

Mahathir said his visit was also as a follow up to Council of Eminent Persons chairperson Daim Zainuddin's recent visit to the superpower.

"Tun Daim brought up certain subjects particularly about contracts given out [...] we are trying to lessen the amount of money borrowed otherwise the nation could become bankrupt," said Mahathir.

Yesterday, Foreign Minister Saifuddin Abdullah said that Daim was sent to China as a "special envoy" for "special reasons" ahead of Mahathir's scheduled visit next month.

Mahathir also said he will invite companies from China to invest in Malaysia but using local workers and resources.

Meanwhile, commenting on fugitive businessperson Jho Low's alleged arrest, Mahathir said it could be fake news as he has gotten no information at all on the arrest.

"Somebody reported that he has been arrested. But I got no info at all. I think it must be one of those fake news," he said. - Mkini