KUALA LUMPUR (Oct 17): The 1Malaysia Development Bhd (1MDB) asset recovery task force and the Inland Revenue Board (IRB) will be summoned by the Public Accounts Committee (PAC) over the latest findings from the Auditor General’s Reports, according to PAC's statement on Thursday.

This follows a briefing to the bi-partisan committee appointed by the House, by Auditor General Datuk Wan Suraya Wan Mohd Radzi on the Federal Government Financial Statements for 2023.

The PAC’s attention has been drawn to the Accounts Receivable (ABT) under the IRB and the government's guarantee commitments related to 1MDB, PAC chairperson Mas Ermieyati Samsudin said.

Accordingly, the PAC will summon the IRB and the 1MDB task force chaired by Datuk Seri Johari Abdul Ghani for proceedings to gather more information on actions being taken regarding these matters, she noted. 

"The proceedings on these two issues are scheduled for November," read the statement.

In the report released on Monday, it was revealed that the federal government had disbursed a total of RM39.74 billion in guarantee commitment grants to repay 1MDB debts from 2019 to 2023.

The grants, allocated over the five-year period, were used for RM29.62 billion in principal repayments and RM10.11 billion for other expenses, including bond interest and coupon payments.

Going forward, the federal government will need to allocate another RM9.46 billion to cover the remaining 1MDB debt balance. This includes RM5 billion in principal and RM4.46 billion in coupon payments for Sukuk Islamic Medium Term Notes (IMTN) maturing on May 27, 2039.

Meanwhile, the report also revealed that receivables in 2023 amounted to RM98.367 billion, down from RM105.824 billion the previous year. The IRB accounted for 35.2% of the receivables, totalling RM34.591 billion.

Read also:
Nearly RM40b in federal grants channelled to 1MDB, says Auditor General
Federal govt's financials improved in 2023, but rising liabilities need attention — AG's Report 

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