Malaysian Prime Minister Mahathir Mohamad (Source: //www.straitstimes.com)
Kuala Lumpur (VNA) - Malaysian Prime Minister Mahathir Mohamad hasannounced to cancel a project on building a high-speed rail link connectingKuala Lumpur with Singapore.
In an interview granted to the Financial Times, the PM said Malaysia needs todrop some unnecessary projects, including the high-speed rail, which is goingto cost the country 110 billion ringgit (28 billion USD).
He also said his government was negotiating with Chinese partners over theterms of a 14 billion USD rail deal aimed at connecting eastern Malaysia from theThai border with the strategic shipping routes of the Straits of Malacca in thewest.
He estimates that Malaysia could cut almost a fifth of its 250 billion USD nationaldebt and liabilities by scrapping such big projects.
After taking office, PM Mahathir Mohamad announced the government’s priority toreducing national debts and committed to reviewing major projects approved bythe previous government.
Mahathir Mohamad was officially sworn in as Prime Minister of Malaysia on May10 after a shock election victory, 15 years after he stood down. Mahathirserved as Prime Minister of Malaysia from 1981 to 2003.-VNA
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Malaysian Prime Minister Mahathir Mohamad (Source: //www.straitstimes.com)
