Politics turned FELDA from RM bil giant into RM10 bil debt-ridden agency

 

PRIME Minister Datuk Seri Anwar Ibrahim has blamed years of excessive political interference and weak governance for FELDA’s financial decline, saying the agency is now saddled with nearly RM10 bil in debt.

This is despite being one of the world’s most successful plantation companies.

He said reports received after he returned to office revealed the scale of FELDA’s financial problems, leaving the government to bear a heavy fiscal burden each year.

“Eight years ago, there was a change in direction. There was excessive political interference. In the end, the organisation that once made RM10 bil in profits is now making losses,” he pointed out.

“When I took over, I had to look after FELDA. Why? Because I received reports showing that FELDA was burdened with debts of nearly RM10 bil. This is not  politics; this is the reality,” Anwar said.

Reflecting on FELDA’s earlier years, Anwar said the agency flourished under leaders such as Raja Alias Raja Muhammad Ali and the late Tan Sri Taib Andak.

During that period, he said, FELDA grew into the world’s largest plantation company and consistently recorded annual profits worth billions of ringgit.

According to him, the agency’s strong financial performance translated into better returns for settlers and their families, allowing them to benefit from the development of the land schemes.

Anwar stressed that the settlers themselves were not responsible for FELDA’s deterioration, arguing that the real failure lay with those entrusted to manage the organisation.

“Did the settlers fail to work hard? No. The problem is that those entrusted with the responsibility betrayed that trust. That is the reality today,” he continued.

Looking ahead, the Prime Minister called on the younger generation to play an active role in preserving national unity and preventing divisive forces from taking root.

He added that Malaysia’s peace and stability would remain intact as long as the leadership of the Malays, the institution of the Malay Rulers and the country’s key institutions continued to be upheld with integrity, honesty and a sense of responsibility.— Focus Malaysia