KUALA LUMPUR: Pahang’s debt with the federal government has reached RM2.8 billion since 2014, and is not RM760 million as previously stated.
Finance Minister Lim Guan Eng (pix) said the huge debt amount had been audited and confirmed by the Auditor-General.
“The financial records clearly show that the Pahang government’s spending is greater than the revenue received, or budget deficit occurring, every year since 2014.
“The consecutive budget deficits have not restored confidence in their ability to carry out development satisfactorily,“ he said in a statement today.
In his National Audit Department’s report on the Pahang Government Financial Statements 2017, Lim concluded that the state’s financial position was not stable.
“Hence, the department has proposed to the state government (Pahang) to take measures to strengthen their financial position, including adopting prudent spending, as well as to increase its revenue collection so that revenue sources can meet current expenditure and liabilities,“ he added. — Bernama
