KUALA TERENGGANU, May 8 — The closures of 50 government-linked companies (GLC) under the Terengganu government which are no longer active will save up to RM150 million a year.
Mentri Besar Ahmad Samsuri Mokhtar said that the PAS government had already identified the weaknesses, shortcomings and strengths of the subsidiary companies belonging to the state government during its one-year rule of the state.
“We will decide which company to close, be combined and continued. The state government prior to this had to inject RM150 million a year for the companies although they are no longer contributing to the economy of the state.
“As such, we have decided to close the 50 subsidiary companies to avoid more losses and the money saved can be used for the people,” he told reporters after chairing the weekly executive council meeting here today.
In the meantime, Ahmad Samsuri said the administrative office of the Terengganu government would be retained at Wisma Darul Iman and not moved to a new building as planned by the previous state government as it would save between RM30 and RM40 million. — Bernama