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Parliament: No Plan To Privatise Indah Water Konsortium – Najib

By Wednesday October 5th, 2011 No Comments

KUALA LUMPUR, Oct 5 (Bernama) — The government has no plan to privatise Indah Water Konsortium (IWK) for the time being, Prime Minister Datuk Seri Najib Tun Razak said.

Najib who is Finance Minister said the government, however, would support the effort spearheaded by the Energy, Green Technology and Water Ministry to strengthen the sewerage industry.

The effort would involve, among others, restructuring the sewerage industry and carrying out a review of sewerage tariffs, he said in his written reply to Loke Siew Fook (DAP-Rasah) at the Dewan Rakyat Wednesday.

The prime minister said the government had taken over IWK’s equities for a sum of RM192 million in 2000 and spent RM1.2 billion to make up for the deficit in IWK’s operations.

“This was because the sewerage tariffs were lower than the actual operations cost,” he said.

Najib said IWK’s liabilities up to June this year was RM1.98 billion comprising mostly government-support loans while total assets were RM1.2 billion.

Source : Bernama

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