Open tender to determine actual cost of 5G project

by TMR / pic by TMR FILE

THE accurate cost for the 5G infrastructure project will be known after open tender process that is expected to begin soon, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

“The total investment requirement for the 5G infrastructure project is estimated at RM15 billion involving infrastructure costs, as well as annual operation and maintenance over the project for a period of 10 years,” Tengku Zafrul said in the 44th Laksana report presentation yesterday.

“A more accurate costing will be known after the open tender process, which will begin soon,” he added.

The minister explained that Digital Nasional Bhd will evaluate innovative options to create a cost-effective financing structure that can be used for such infrastructure projects.

It is expected that this will be privately funded through a public-private partnership agreement, he said further.

Separately, Tengku Zafrul said the government aims to create 500,000 job opportunities through the National Employment Council as it also seeks to prioritise assistance to the people this year.

“The welfare of the people needs to be better protected, especially those in the informal economy. A study conducted in People’s Housing Project areas found that there are still those who have not received assistance because they were not registered with any government agency involved in channelling assistance,” he said.

In the meantime, he said the government will continue supporting public health capacity and ensure business continuity, as well as protect the people’s livelihood through continued assistance.

Tengku Zafrul said as of Feb 26, a total of 6,973 applications has been approved under the Penjana SME Financing Scheme with a total loan value of RM1.32 billion, compared to RM1.26 billion last week, channelled to benefit 11,708 micro and small and medium enterprises (MSMEs), including in the retail and services sectors under the Penjana Micro Credit Financing under Bank Simpanan Nasional.

This is an increase of RM28.5 million, while the MSMEs benefitted from the initiative have increased by 934.

For the Bumiputera Relief Financing, 641 SMEs have benefitted from the fund, worth RM182.8 million from the RM200 million allocation.

“The main challenge in managing this crisis is to balance between protecting lives and the need to sustain livelihoods,” Tengku Zafrul said.

He said RM100 billion have been disbursed for the six-month automatic loan moratorium last year, while Targeted Loan Repayment Assistance currently stands at RM51.5 billion.

Moving forward, Tengku Zafrul said government-linked companies will be transformed to redefine the direction of the vision and mission of the companies involved, especially after the country was hit by the pandemic.

Projects that will drive the recovery and development of the Malaysian economy will be accelerated, he added.

Read our previous report here

Wage Subsidy Programme saves 2.7 mil jobs: Tengku Zafrul

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Open tender to determine actual cost of 5G project