PARLIAMENT | Putrajaya will table a white paper on Felda in the next sitting of the current Dewan Rakyat session, which commences on Oct 15, said Economic Affairs Minister Azmin Ali.

The white paper will address political interference that had allegedly led to Felda’s weak financial status, he said during Minister's Question Time in the Dewan Rakyat today.

"We have decided to table a white paper in Parliament in the next session to reveal Felda’s actual situation and the strategic planning for Felda’s recovery," he said.

"Felda faces a critical cash flow problem. As such, the focus of the new board and management of Felda is to recover its cash flow status via negotiation with creditors to restructure debts amounting to RM8.025 billion," he said.

"The critical financial status of Felda was the legacy left by the previous leadership which was weak in corporate administration and managed finances irresponsibly.

"Close to 400,000ha of Felda land were surrendered to Felda Global Ventures (FGV) Holdings for its listing, but they (FGV) had problems in paying the dividends, which included a fair share of the profits, to Felda," he added.

"This was among the reasons why Felda faced critical financial problems, as there had been too much political interference under the previous administration.

"As such, we are forced to be frank with the Felda settlers and the government has no choice but to expose the matter in a white paper which will be debated in the House," he said.

Beside restructuring debts, the Gombak MP also said Felda will improve its financial status by selling its less strategic assets overseas as well as in Malaysia.

Pakatan Harapan promised to set up a Royal Commission of Inquiry (RCI) into Felda within its first 100 days of forming the government.

The RCI will audit Felda and identify the steps to be taken to restore the organisation to its former glory, according to Buku Harapan, the coalition's manifesto.

Harapan pledged to form a cabinet committee to hear the complaints of the settlers directly and improve their living standards.