Government-linked investment companies (GLICs) like Khazanah Nasional cannot operate on commercial considerations alone, but need to ensure that their investments are in line with Putrajaya‘s aspirations to develop the country as well as public interests, Anwar Ibrahim said today.
The prime minister said that Khazanah was not a private entity, in defending the government’s decision to allocate funds derived from GLICs in the national budget.
“Khazanah was set up to look after the interests of the people,” he said, adding that the sovereign wealth fund must strike a balance between profit and strategic national needs.
Anwar, who is also the finance minister, was speaking at the ministry’s monthly assembly here.
He said if Khazanah was a private entity, it could disregard national policies and be free to invest in China, India or the US.
“But that would not be right and would not make sense,” he added.
Anwar’s comments follow concerns raised by former economy minister Rafizi Ramli over the government’s decision to allocate funds derived from GLICs and government-linked companies in the 2026 budget.
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