KUALA LUMPUR, Sept 3 — The Pakatan Harapan (PH) government might have to sell public assets in order to service the loans accumulated by the previous Barisan Nasional (BN) administration, Prime Minister Tun Dr Mahathir Mohamad said today.
Speaking at a forum in University of Brunei earlier, Dr Mahathir added that the ventures and projects undertaken by the previous government was not generating enough profit to service the loans it had taken.
“So, now we find that first we have to attend to our borrowings, loans that we have. As you know if you don’t pay your interest, you can be declared bankrupt.
“We have to find the money to pay interest and also the principle later on. That is a tough thing because assets have got to be sold in order to get the money because we are not collecting enough taxes in order to service the loans even.
“And the new ventures that the previous government went into could not yield enough profit to service the loans,” he said.
Source from MSN News
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