BY ANISAH SHUKRY
Government-owned firm Pembinaan PFI Sdn Bhd exists as a vehicle for the government to carry out off-budget expenditure, the Public Accounts Committee (PAC) has found.
In its report tabled in the Dewan Rakyat today, the PAC found that while Pembinaan PFI was set up to fund development projects, this "concept was not applied in this case".
Because Pembinaan PFI's loans did not show up as government liability, Malaysia's 3% deficit rate and 54% gross domestic product (GDP) was skewed, PAC added.
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