Tony Pua: Pakatan Harapan has no intention to hide true cost of LRT3

KUALA LUMPUR (July 18): Damansara MP Tony Pua (pictured) said today that the Pakatan Harapan administration has no intention of hiding the true cost of Malaysia's proposed Light Rail Transit Line 3 (LRT3) project, when the total cost of the project was renegotiated down to RM16.63 billion, from RM31.65 billion.

"In this case, the overall TOTAL cost of the project has been renegotiated down to RM16.63 billion. This cost includes the WPCs (Work Package Contracts), land acquisition, project management, consultancy fees, operational and overhead costs, as well as interest during construction.

"Finance Minister Lim Guan Eng announced that Prasarana Malaysia had previously secured a government guarantee for a RM10 billion bond facility to fund the LRT3 project in 2015. However, on 30 March 2018, Prasarana had requested for an additional RM22 billion in government guarantee to ensure funding for the construction and completion of the LRT3 project. The finance minister said the final total cost of the LRT3 project is reduced by 47% from RM31.65 billion to RM16.63 bilion, saving Malaysians a total of RM15.02 billion," Pua said in a statement.

Pua, who is also DAP National Publicity Secretary, was responding to a Malaysiakini report which quoted former prime minister and finance minister Datuk Seri Najib Tun Razak as saying that the project does not cost RM31.65 billion as alleged.

According to the report yesterday, Najib had dismissed Lim's statement that there are "hidden files" proving that the LRT3 is a mini-1Malaysia Development Bhd. — theedgemarkets.com

For more stories, download EdgeProp.my pullout here for free.