‘State projects to be assessed before loans are given’

GEORGE TOWN: The Finance Ministry will conduct a full assessment of state projects before granting soft loans.

Its minister Lim Guan Eng said any state was welcome to make an application for a soft loan from the ministry, but it will not be a quick process because the applications will be reviewed from the perspec tive of the country’s financial situation as well.

“We will have to assess the applications as well as the entire financial situation of the country,” he said at a press conference after the trailer launch of Rise: Ini Kalilah, a film inspired by the events of the 14th General Election, at Wisma Yeap Chor Ee.

Lim was responding to the question of whether the federal government would consider giving Penang a RM1bil soft loan to expedite its implementation of the Penang Transport Master Plan.

Chief Minister Chow Kon Yeow recently said that the state government was considering requesting for the loan as a bridging loan to carry out both the Bayan Lepas Light Rail Transit (LRT) and the 19.5km PanIsland Link (PIL) 1 from Gurney Drive to the airport simultaneously rather than one after the other.

Meanwhile, at the same press conference, Lim also added that the federal government would review Bantuan Sara Hidup (BSH), formerly BR1M, next year to make sure only those who truly qualified would receive it.

“Only those who are eligible for the assistance should get it, not those who do not actually qualify as it is not only unfair, it is wrong,” said Lim.

“We need to identify those who really need the assistance.”