The Private Funding Initiative (PFI) debt level is manageable as all projects are viable over the long term, says Treasury secretary-general Mohd Irwan Serigar.

He said the Malaysia’s debt level is still below 55 percent of the Gross Domestic Product and it is untrue that some PFIs may require a bail out.

“All the projects are viable and can survive on their own. They have been evaluated both technically and financially, while progressing very fast and within the government’s financing programme,” he added.

Commenting on claims that the PFIs did not have an operating income to service the debt, Mohd Irwan ( right ) said some infrastructure project were financed through developmental expenditure or borrowings and the operation, through revenue.

“There may be a long gestation period. But, in long term, it is viable and beneficial to the country and people.

“I don’t see any problem in terms of the refinancing and economic position of the country which is really strong and on the right path,” he added.

Irwan told reporters this at the FTMS Global College’s Ascent 2015 Conference on emerging trends for Computing, Business and Education in Kuala Lumpur today.

The event brought together more than 300 international participants to promote innovation towards becoming creative entrepreneurs.

Mohd Irwan said as the Asean chair, Malaysia had started a few meetings with the next being that for Asean Finance Ministers and Central Bank Governors from March 19-21.

“Among the financial issues to be discussed are the facilitation of trade and financial integration among Asean countries, as well as facilitating small and medium enterprises in terms of finance to be further liberalised.

In conjunction with the meeting, Malaysia will also organise the Asean Entrepreneurship Summit, by bringing in entrepreneurs from the member countries to share ideas and development of the sector.

- Bernama