Accordingly, the Finance Ministry said the government has approved a government guarantee of up to RM9.9bil for the agency to issue sukuk.
On June 28, the government announced an agreement involving a government guarantee to restructure the agency's loan via the issuance of sukuk and revolving credit as part of efforts to restore Felda's financial position. "Budget 2021 and Budget 2022, tabled by Perikatan Nasional, have no provision to settle and dispose of Felda settlers’ debt. I stand by this record.
Meanwhile, Felda's new chairman Datuk Seri Ahmad Shabery Cheek admitted that Tan Sri Muhyiddin Yassin had already announced during his tenure as the prime minister that he would pay RM1bil a year for 10 years from 2022, but this was not implemented.
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