Submit financials first, PM tells police coop on aid for debts
Prime Minister Anwar Ibrahim said if the cooperative performs with the new projects, the government will consider allowing it to take on more projects next year.
KUALA LUMPUR : Prime Minister Anwar Ibrahim has asked the police cooperative to submit a detailed report on its financial performance before the government considers ways to help it reduce the debts of its subsidiary, Unikop College.
Speaking at Koperasi PDRM Bhd's 90th annual general delegates meeting here today, Anwar said the government would monitor the cooperative's performance.
'I will approve two or three projects for the cooperative. But I want to see a report from the cooperative and the home ministry first.
'We will look at how it can work with the finance ministry to find alternatives and ensure that the cooperative can generate profits,' he said.
Anwar, who is also the finance minister, said if the cooperative performed with the new projects, the government would consider allowing it to take on more projects next year.
'But it must prove its efficiency.'
He said the government preferred to provide cost-effective projects instead of handing out financial grants.
He added that the government could not write off all of Unikop College's debts, but would assess its performance over the next few years.
Bukit Aman management department director Azmi Abu Kassim said that Unikop College's debts dated back to 2018, stemming from poor decisions that led to losses and leakage.
However, he did not disclose the amount of the debt.
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