Friday March 31, 2006
RM28.6bil savings from privatisation
THE Government made savings of RM28.6bil in capital expenditure from the privatisation programme under the 8th Malaysia Plan (8MP).
Of that amount, 81.5% was from the electricity, gas and water sectors, and 12.8% from the construction sector.
The Government also benefited in terms of proceeds from the concessionaires through sale of assets and equity, generating RM21.7mil and RM40.5mil respectively. A total of 6,249 employees were transferred to the private sector, reducing the government administrative burden and generating savings in operating spending.
Performance indicators have shown a continuing improvement record of privatised entities during the 8MP, which can be attributed to better utilisation of resources, closer attention to consumer demands, technological change and lower production costs.
The public also enjoyed general benefits with privatisation such as the construction of toll expressways.
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