Nation Still Bearing Debt Burden from 1MDB Scandal

SHAH ALAM: The court proceedings and punishment faced by former Prime Minister Datuk Seri Najib Tun Razak are not an act of political vengeance but a matter of trust, accountability and responsibility to the Malaysian people, it has been claimed.

PKR Deputy Secretary-General G. Sivamalar said the 1Malaysia Development Berhad (1MDB)-related cases involving the former Finance Minister had left the government with financial obligations amounting to RM51.4 billion.

According to her, the Finance Ministry stated on July 9 that RM42.5 billion in debts and commitments related to the company had been paid using public funds.

“More worrying is that the country will continue to bear these financial commitments until 2039. The question is, who ultimately bears the RM51.4 billion cost?

“It is paid using the country’s financial resources, which ultimately means taxpayers’ money. The government still has to pay RM5 billion in principal and RM3.9 billion in interest on the IMTN Sukuk until it matures in 2039,” she said in a statement today.

Sivamalar, who is also a member of PKR’s Central Leadership Council, said the issue remained relevant as the financial burden would continue to be borne for another 13 years, despite the funds potentially being used to meet the needs of the people.

“Such a substantial amount could make a significant difference to the people if it were channelled towards national needs such as schools, hospitals, public transport, housing and assistance for families struggling with the rising cost of living.

“Those entrusted with power must always remember that public funds belong to the people. Any abuse of that trust has consequences that ultimately have to be borne by the people,” she stressed.

Utusan Malaysia