GLC, GLIC transformation to boost domestic investments, says Anwar


KUALA LUMPUR: The government will implement the transformation of government-linked companies (GLCs) and government-linked investment companies (GLICs) including boosting strategic domestic investments and strengthening governance, says Datuk Seri Anwar Ibrahim.

The Prime Minister said the effort is expected to improve dividend yields from GLICs and GLCs.

"I agree with additional efforts including the transformation of GLCs and GLICs to ensure increased domestic investments. When domestic investment is boosted, hopefully non-tax revenue can also be increased," he said during the Ministers’ Question Time at the Dewan Rakyat Tuesday (March 26).

Anwar, who is also the Finance Minister, said 50% of non-tax revenue was from investment income including dividends from Petronas, Bank Negara Malaysia and Khazanah Nasional Bhd.

He said this in response to a proposal from Datuk Mohd Shahar Abdullah (PN-Paya Besar) who suggested that the government focus on non-tax revenue from GLC and GLIC investments to increase the country's revenue, as opposed to raising the service tax rate from 6% to 8%.

Earlier, Anwar said the government expects to collect revenue amounting to RM3bil through raising the service tax. - Bernama

   

Next In Nation

High Court finds businessman's defamation suit against Penang CM without basis
Paul Yong rape case: High Court to hear testimony on new evidence in January
Cuban ambassador hails Malaysia’s pragmatic Global South initiative
Man, 22, killed after car crashes into back of oil tanker on NSE
TVET grads more employable, with marketability rate at 96.5%, says Zahid
Ministry will integrate flood data to improve home-buying decisions, Dewan Rakyat told
Azmin appointed Bersatu sec-gen
Anwar's meeting with chaebol aims to attract more South Korean investments
Anwar invites South Korean investors to explore opportunities in Malaysia
Gas cylinder explosion leaves singer Syura's husband in hospital with severe burns

Others Also Read