Kota Kinabalu: Former Sabah assistant finance minister Sarifuddin Hata disputed State Finance Minister Datuk Seri Masidi Manjun’s version of the repayment of a RM1 billion State bond.
He claimed that when Warisan took over in 2018, a year before the bond matured, the Bond Repayment Fund contained only about RM400 million or RM600 million short of what should have been saved under the previous RM200 million-a-year plan.
“This shortfall was due to weak fiscal discipline before Warisan formed the government,” said Sarifuddin, accusing the minister of “cherry-picking” records.
window.googletag = window.googletag || {cmd: []};googletag.cmd.push(function() {googletag.defineSlot('/22826383987/dailyexpress_inline', [1, 1], 'gpt-passback').addService(googletag.pubads());googletag.enableServices();googletag.display('gpt-passback');});The Warisan Merotai Assemblyman said budget tabling did not mean allocations were actually deposited, and official records, undisclosed to the public, confirmed the 2018 balance was far below the target.
He argued that if repayment was “fully guaranteed” as claimed, there would have been no need for Warisan to urgently top up the fund.
“Warisan raised the amount to RM1 billion in under 12 months, while also covering interest that pushed the total repayment above RM1 billion , without taking new loans, cutting development, or burdening the public.
“This was not a routine matter but an effort to save Sabah’s finances, protect its credit rating and credibility,” he said.
Sarifuddin also claimed that Warisan implemented the sales tax on petroleum products in April 2020, gazetted under its administration.
“GRS was only able to claim the revenue because the first payment was received after they took over. The policy, groundwork and legal framework were entirely Warisan’s,” he claimed and demanded transparency on how the bond proceeds were spent.