KUALA LUMPUR, Aug 2 ― The federal government is not involved in state-owned 1Malaysia Development Bhd’s (1MDB) debt repayment to Abu Dhabi’s International Petroleum Investment Co (IPIC) at the moment, Second Finance Minister Datuk Johari Abdul Ghani said today.

He explained that the government will stay out as the company owned by the Ministry of Finance (MoF) has not asked for any help to date.

"You don't assist them when they don't come to you. And since this is a company matter, let the companies deal with it on their own. 1MDB and IPIC are both companies, let them deal between them [on the extension of time to pay].

"So far, they have not come to MoF, so we are not getting involved in this at this moment. As far as I am concerned, they are dealing with this at the Board level so let them do that,” he was quoted by New Straits Times on its website as telling reporters in Putrajaya earlier.

Johari said the government’s commitment to the country was to ensure economic progress.

1MDB was supposed to pay a total US$628.75 million (RM2.6 billion) to IPIC yesterday, but has been given an extension.

The Malaysian strategic investment fund issued a statement saying it will pay up this month after it receives the money from its debt rationalisation plan.