Think tank calls for review of GLCs' aims and performance

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IDEAS' director says the government won't reduce the national debt by much through the sale of non-essential properties. FMTNews

PETALING JAYA: A think tank has urged the government to do more than divest itself of some pieces of property in order to significantly reduce the national debt.

He called for a comprehensive review of the objectives and performance of GLCs in and out of the country.He noted that the government held majority stakes in many big Malaysian companies and said this meant it was highly exposed to the Malaysian economy and would suffer losses during a recession. Government ownership of majority stakes also had the potential to suppress the development of the private sector, he added.

 

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