Perak became the sixth state to sign the water supply services industry restructuring agreement Wednesday, allowing Pengurusan Aset Air Berhad (PAAB) to take over water-related liabilities worth RM999 million.
In return, water-related assets with the same value, will be transferred to PAAB for 45 years to enable the Perak Water Board to operate "asset light" and focus attention to improve service efficiency to the people in the state.
Deputy Prime Minister Tan Sri Muhyiddin Yassin witnessed the signing ceremony.
Fielding reporters' questions at the event, Perak Menteri Besar Datuk Seri Dr Zambry Abdul Kadir said about 92 per cent of the state government's loans would be written off following the agreement.--BERNAMA
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