Politics

Investment in PNB will be affected if opposition comes to power

PM Datuk Seri Najib Razak at the launching of Malaysian Unit Trust Week at the Batu Pahat Stadium today.

Syndicated News
Written by Syndicated News

BATU PAHAT, April 19 2018 : The people’s investment in Permodalan Nasional Bhd (PNB) will be affected if the opposition were to wrest control of the government with their ‘Pak Pandir’ policy, Datuk Seri Najib Razak said.

The Prime Minister said based on the Ministry of Finance’s findings, the abolition of tolls, goods and services tax (GST) and the National Higher Education Fund Corporation, as promised in the opposition manifesto, would increase the national debt to RM1 trillion or 80 per cent of gross domestic product (GDP) from 50.8 per cent.

“It will have a bad effect on Bursa Malaysia… the currency will be affected.. PNB will be affected.. unit trusts will be affected.

“Bursa (Malaysia) is getting stronger. This is a closely linked the farsighted economic management of the country. This is not a trivial matter to be politicised,” he said at the launch of the Malaysian Unit Trust Week at the Batu Pahat Stadium here today.

PNB is the country’s largest fund manager, managing funds worth RM200 billion through 13.4 million unit holders of various ASNB trust funds. – Bernama

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