KUALA LUMPUR: Despite recovery efforts, the government is still forced to fork out RM1.53bil to pay off debts incurred by 1Malaysia Development Berhad (1MDB) for 2022, says Datuk Idris Ahmad.

       "There is a balance of RM15.76bil under the recovery asset fund which is sufficient to cover a large portion of 1MDB's principal debts and interest for 2022 which amounts to RM16.18bil.

       "To make up for the shortfall, the government has allocated a total of RM1.53bil to repay the interest debts for 2022," the Minister in the Prime Minister's Department said when replying to a question raised by M. Karupaiya (PH-Padang Serai) in Dewan Rakyat on Thursday (March 17).

       Based on recovery of RM515mil from AmBank and about RM4bil (US$954mil) from Goldman Sachs, Idris said there is still a total shortfall of RM17bil in which the government has to repay on 1MDB's principal debts and interest, totalling RM38.8bil for a period covering 2023 till 2039.

       He also said that since 2014 and as of Feb 28 this year, SRC International Sdn Bhd paid RM314.72mil, and the government paid RM4.774bil as repayments for loans taken from the Retirement Fund Inc (KWAP).

       This amount, he added, included repayment of principal loans, profits and late repayments.

       "The latest payment totalling RM610.22mil to KWAP is scheduled to be made this coming March 28," he added.

       Earlier, Idris informed the House that the government had to take advance loans amounting to RM10bil from the Finance Ministry and Mentri Kewangan Diperbadankan (MKD) to repay 1MDB debts between April 2017 and November 2021.

       So far, he said the government and MKD had paid a total of RM13.31bil.

       He also said that as of Feb 28, the government managed to recover US, Australian and Singapore currencies worth RM19.14bil.

       Of this sum, he said that RM3.31bil was used to repay interest on 1MDB's bonds and sukuk.

       Several Opposition MPs voiced their dissatisfaction that Idris was tasked to reply on behalf of Finance Minister Tengku Datuk Seri Zafrul Abdul Azizz who was not present in the House.

       Dewan Rakyat Deputy Speaker Datuk Mohd Rashid Hasnon said that Idris would assume the responsibility.

       This led to several Opposition MPs questioning why Idris, who is the Minister in charge of Islamic religious affairs, was given the responsibility.

       They were also unhappy that their subsequent supplementary questions to Idris would receive a written reply.