VIDEO | 2.08

The government stands to lose about RM163 million from the National Feedlot Corporation (NFC) scandal, PKR director of strategy Rafizi Ramli has claimed.

NONE At a press conference at the Parliament lobby today, he said the value of NFC properties seized by the government only stands at RM18 million.

As the government has released RM181 million out of the RM250 million soft loan, it can only save RM69 million from the package, he said.

Rafizi said the balance of RM163 million may be impossible to recoup as the company may be declared bankrupt.

This is because the NFC’s operations have ceased, while its directors have not put up personal guarantees.

“I did not raise this issue before this in order to give an opportunity to use its full power to seize and retain all the assets and cash from NFC and its directors,” he said during a press conference at the Parliament lobby today.

He said that recent reports that the government has agreed to appoint a new consortium to take over the project that was previously handled by NFC proves that the government will have difficulty in recouping the money given to NFC.

“This is because the new operator of the project is not being made responsible over the RM250 million soft loan either.

“I am disappointed that even though these matters have been brought to public knowledge earlier, no follow-up action was taken in response to to the pressure given,” he said.

“In the current situation, I assume that the RM163 million that has been spent by NFC can be considered burnt and cannot be recouped,” he added.

When met at the Parliament lobby, Agriculture and Agro-based Industry Minister Ismail Sabri Yaakob declined comment because the matter was now being handled by the Finance Ministry.