Masidi calls out Shafie’s RM1bil debt settlement boast
Sabah finance minister Masidi Manjun has hit out at Warisan president Shafie Apdal for claiming that his administration in 2019 had settled a RM1 billion debt left by the previous government.
Masidi said Shafie’s claim was aimed at showing that his administration was good at managing government finances but the facts speak for themselves.
Masidi, who is also Gabungan Rakyat Sabah secretary-general, explained that the federal bond in question was issued in December 2014 during the Barisan Nasional-led state administration.
He said one of the conditions imposed by the central bank for the issuance of the bond was that the state government must set up a dedicated sinking fund to ensure full repayment of the debt upon maturity.
“This was a safeguard to prevent the repayment from becoming a…
