PETALING JAYA: Finance Minister Lim Guan Eng has proposed the setting up of a trust fund for the benefit of the Tunku Abdul Rahman University College (TAR UC) and its students.
But for the fund to channel funds to TAR UC, MCA would still need to meet the conditions imposed by the government.
This proposal is the latest development in the issue of government matching grants for the MCA-controlled TAR UC.
Lim has maintained that MCA should relinquish control of TAR UC as a condition for receiving RM30 million as a government grant, while MCA leaders, including party president Wee Ka Siong, had attacked him for his stand.
In a statement today, Lim said the government approved an annual allocation of at least RM30 million for this fund, which will be managed by the Tunku Abdul Rahman Alumni Association (TAA).
“This trust fund will consist of members of TAA, TAR UC student representatives and a finance ministry representative,” he said, in urging TAA to set up the fund as soon as possible.
“The trust fund will manage the RM30 million a year without the involvement or interference of the government or any political party, be it MCA or Pakatan Harapan.”
The RM30 million, Lim said, will be paid the moment the trust fund is established.
The channelling of funds from the trust fund to TAR UC, Lim said, could still happen on the condition MCA leaders relinquished their ownership, administration and positions on the institution’s board of trustees and board of governors.
Lim said the condition was to respect the principle that public funds should not go to businesses, media houses, NGOs and educational institutions controlled by political parties.
“This condition is practised around the world to prevent corruption, abuse of power and a conflict of interests.” - FMT
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