Malaysia

Terengganu has paid RM472.7m in debts to federal govt, state assembly told

Ahmad Samsuri said the payment in 2019 involved RM425.70 million through a 25 per cent cut in oil royalty payment (WTP), followed by RM31.86 million in 2020 through a five per cent cut in WTP. — Picture by Miera Zulyana

Monday, 25 Jul 2022 12:42 PM MYT

KUALA TERENGGANU, July 25 — The Terengganu government has paid RM472.78 million in debts to the federal government for the period from January 2019 to last June, said Mentri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar.

He said the payment in 2019, involved RM425.70 million through a 25 per cent cut in oil royalty payment (WTP), followed by RM31.86 million in 2020 through a five per cent cut in WTP.

“In 2021, the state government paid RM15.20 million in cash,” he said in response to an oral question from Hilmi Harun (PAS-Manir) at the State Assembly sitting today.

According to him, the balance in debt still owed by the state government to the federal government as of June 30 is RM267.09 million.

“Of that amount, the highest is for water supply project (RM226.7 million), followed by low-cost public housing (RM37.16 million) and development projects of the Terengganu State Economic Development Corporation’s (PMINT) development projects, totalling RM3.2 million,” he said.

To a supplementary question from Hilmi on the state’s debt burden, Ahmad Samsuri said it was a challenge for the state government to develop new projects due to fiscal position.

”However, we are still able to deliver services to the people by setting priorities in our spending and spent prudently so that job opportunities can still be created and people’s housing projects and affordable houses can continue to be built for the well-being of the people of Terengganu,” he added. — Bernama

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