TAMPIN, July 27 — Prime Minister Datuk Seri Anwar Ibrahim said today that the Federal Land Development Authority (Felda), once the world’s largest plantation company earning billions annually, is now facing losses of nearly RM10 billion due to mismanagement and excessive political interference.

According to Berita Harian (BH), Anwar said reports he received after returning to government showed Felda was saddled with debts of almost RM10 billion, forcing the administration to shoulder a heavy financial burden each year.

“Eight years ago, decisions changed. There was excessive political interference. In the end, what once earned RM10 billion is now in deficit,” Anwar said.

“I have taken over and am looking after Felda. This is not politics, this is fact.”

The prime minister noted that under leaders such as Raja Alias Raja Muhammad Ali and the late Tan Sri Taib Andak, Felda had been managed efficiently and rose to become the world’s largest plantation company, delivering strong returns for settlers, BH reported.

He stressed that the decline was not due to settlers failing to work hard, but rather because those entrusted to manage the agency betrayed the confidence placed in them.

“Settlers did not fail to work hard. The problem is those entrusted with responsibility betrayed that trust. That is the reality today,” he was quoted as saying.