GLC, GLIC transformation to boost domestic investments, says Anwar

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KUALA LUMPUR: The government will implement the transformation of government-linked companies and government-linked investment companies including boosting strategic domestic investments and strengthening governance, says Datuk Seri Anwar Ibrahim."I agree with additional efforts including the transformation of GLCs and GLICs to ensure increased domestic investments.

Anwar, who is also the Finance Minister, said 50% of non-tax revenue was from investment income including dividends from Petronas, Bank Negara Malaysia and Khazanah Nasional Bhd. He said this in response to a proposal from Datuk Mohd Shahar Abdullah who suggested that the government focus on non-tax revenue from GLC and GLIC investments to increase the country's revenue, as opposed to raising the service tax rate from 6% to 8%.

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