PNB assets do not belong to the government, Pua clarifies

Shazwan Mustafa Kamal
Damansara MP Tony Pua says the sale of government assets to help settle the national debt will not involve assets under Permodalan Nasional Bhd. ― Picture by Razak Ghazali

KUALA LUMPUR, Oct 15 ― The sale of government assets to help settle the national debt will not involve assets under Permodalan Nasional Bhd (PNB), Tony Pua clarified today.

The Damansara MP and political secretary to Minister of Finance was responding to a recent remark he made over the disposal of government assets, and that it may involve the realisation of value of selected non-core assets held via entities such as Khazanah Nasional and PNB.

“I would like to make a clarification and correction to my statement above that any sale of our assets, if at all, would not involve the PNB,” Pua said in a statement today.

He explained that this is because while PNB is an entity incorporated and managed by the government, its funds and investments the unit holders and not the government.

“The unintended confusion which may have been caused, arising from the mistaken example provided is much regretted,” Pua added.

Prime Minister Tun Dr Mahathir Mohamad recently said that the government may need to consider additional forms of taxation to address the debt amassed by the previous Barisan Nasional government, or sell off the nation’s assets.

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