KUALA LUMPUR, Oct 27 — Prime Minister Datuk Seri Anwar Ibrahim today defended the use of government-linked investment companies (GLICs) to fund domestic development, citing Petronas’ role in Putrajaya and arguing that public needs can be balanced with commercial returns.
Responding to criticism over GLIC involvement in housing, Anwar said that the national oil company had helped fund Putrajaya’s development through Putrajaya Holdings, which encompasses government offices, public amenities, hotels, commercial ventures and tourism facilities.
“Putrajaya was developed with Petronas funds from the outset,” he told the Dewan Rakyat during Prime Minister’s Question Time.
Anwar said the Kota Madani housing project was intended to address a shortage of accommodation for civil servants in Putrajaya, with 80 per cent of its units reserved for them.
