PETALING JAYA: Parti Keadilan Rakyat will take court action to prevent government agencies such as the EPF from buying shares when 1Malaysia Development Bhd lists its power companies, PKR secretary-general Rafizi Ramli said today.
No more public funds should be pumped into the troubled government-owned investment company he said.
“We will do our best to file an injunction against EPF, or any other bodies, so that public funds will not be used to subscribe to the 1MDB listing,” Rafizi said at a public forum on 1MDB today.
He said he was sure that RM10 to RM15 billion in public funds used for 1MDB could never be recovered, but the party hoped to prevent more taxpayers’ money from being wasted.
The government has said that a public listing of 1MDB’s power companies would help to pay off the company’s debts, now estimated to be about RM42 billion. The company has also announced it would be selling off its land holdings in Kuala Lumpur and Penang.
However, EPF’s chief executive, Shahril Ridza Ridzuan said last month that the pension fund had not been approached to take up shares.