Loke: CAAM to split from government on August 1, saving RM1.5b in public funds
PUTRAJAYA, June 23 — The Civil Aviation Authority of Malaysia (CAAM) will become an independent statutory body with separated and exempted remuneration starting August 1, Transport Minister Anthony Loke Siew Fook announced today.
He said the move is expected to save the government between RM1.5 billion and RM2 billion over the next decade.
'The government approved this move on June 11. This means that the statutory body will no longer require financial injections from the government through annual allocations, and at the same time, it will also not be bound by the government's remuneration system.
'It is both exempted and separated from the Government. So, in other words, it will become a body that is financially and administratively independent,' he said at a press conference at his ministry's headquarters.
Loke also announced that August 1 has been set as the date for CAAM's merger with the Malaysian Aviation Commission (Mavcom).
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