By Zareef Muzammil
SHAH ALAM, Nov 12 — The state administration's commitment to settling the remaining RM19.2 million debt from the Water Supply Project and the Selangor State Trust Scheme (Asas) is poised to propel the state forward.
Lembah Jaya state assemblyman Syed Ahmad Syed Abdul Rahman, popularly known as Altimet, said the announcement about the state government's move to fully clear its debt with its Federal counterpart demonstrates the administration's financial capabilities.
"We believe Selangor will progress, especially with the announcement of the state's remaining RM19.2 million debt, consisting of Asas loans.
"This debt will be successfully settled in full next year, based on Selangor's excellent financial independence, showcasing the solid administration's capacity under the excellent governance of the Pakatan Harapan," he said in a statement yesterday.
On Friday (November 10), during the tabling of the 2024 Selangor Budget, Menteri Besar Dato' Seri Amirudin Shari said he expect's the state's debt to the Federal government will be fully settled in 2024, based on Selangor's exceptional financial freedom.
The RM19.20 million debt, consisting of Asas loans, and the commitment to resolve state debt liabilities by next year, is minimal. It primarily involves settling the Asas Scheme's final instalment balance, which stands at RM1.89 million.
The remaining RM17.3 million debt from the Water Supply Project will be transferred to Pengurusan Aset Air Berhad (PAAB), requiring only documentation management actions.
