Masidi’s claim on 2019 RM1 billion bond repayment a ‘desperate distortion’ – Sarifuddin

AI Summary

Former Sabah Assistant Finance Minister Sarifuddin Hata criticized State Finance Minister Masidi Manjun's claim that the 2019 repayment of a RM1 billion bond was "automatic." Sarifuddin argued that the Warisan government inherited a bond repayment fund with a RM600 million shortfall due to the previous administration's weak fiscal discipline. He highlighted Warisan's efforts to raise the fund to over RM1 billion within a year without incurring new debt or impacting development programs. Sarifuddin also emphasized that Warisan implemented and gazetted the sales tax on petroleum products, with GRS only collecting the revenue later.