GLICs like Khazanah don’t run on commercial considerations alone, says Anwar
Government-linked investment companies (GLICs) like Khazanah Nasional cannot operate on commercial considerations alone, but need to ensure that their investments are in line with Putrajaya’s aspirations to develop the country as well as public interests, Anwar Ibrahim said today.
The prime minister said that Khazanah was not a private entity, in defending the government’s decision to allocate funds derived from GLICs in the national budget.
“Khazanah was set up to look after the interests of the people,” he said, adding that the sovereign wealth fund must strike a balance between profit and strategic national needs.
Anwar, who is also the finance minister, was speaking at the ministry’s monthly assembly here.
He said if Khazanah was a private entity, it could disregard national policies and be free to invest in China, India or…
