Committee given 18 mths to cut govt's RM1.1 tril debt to 'manageable level'

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KUALA LUMPUR (Jan 15): The Prime Minister's Office (PMO) has set up a Debt and Liability Management Committee, which is tasked to reduce the government's debt and liabilities to a manageable level within the next 18 months.

The committee will report directly to the prime minister.

"The five committee members comprise experts in finance, economics, and law. They are Treasury secretary-general Datuk Ahmad Badri Mohd Zahir, Attorney General's Chambers head of advisory division To' Puan Azian Mohd Aziz, economic adviser to the prime minister Dr Muhammed Abdul Khalid, Bank Negara Malaysia board member Gooi Hoe Soon and Securities Commission Malaysia board member Faris Rabidin," said PMO in a statement today.

On Nov 2 last year, when tabling Budget 2019 in Parliament, Finance Minister Lim Guan Eng had announced that the government will set up the committee to review and manage its debts and liabilities. He said then that the federal government had chalked up a total of RM1.07 trillion in debts and liabilities as at June 2018.