by Hazlan Zakaria Malaysiakini 6:45PM Oct 24, 2011
The fate of a failed government-linked company and its RM250 million government soft loan that was made debate fodder by the Opposition in Parliament recently is in the sight of the Public Accounts Committee (PAC).
“This matter has been made much of in Parliament. The PAC will look into National Feedlot Corporation, which is under the Ministry of Agriculture and Agro-based Industries,” its chairperson Azmi Khalid told reporters after chairing the financial oversight body’s maiden meeting for this session at Parliament House today.
The opposition raised red flags on the corporation, not just because of its non-performance but more so because of National Feedlot’s link to the son and husband of a federal minister.
The opposition MPs are claiming that the government’s granting of RM250 million to the National Feedlot project presents a conflict in interest, if not direct competition, because of the family links with the cabinet minister.
The quarter of a billion Ringgit was from a RM1.2 billion national fund set up to ensure that Malaysia becomes self-sufficient in food and livestock production, the project supposed to ensure Malaysia becomes self-sufficient in beef production by this year, but as the opposition claimed, with nothing to show thus far.
However, despite the issue being raised repeated times in Parliament by the Opposition, the only replies from the government have been weak denials of any conflict of interest or any complicity.
This statement from the PAC is the first assurance of an investigation into the matter.