Communications and Multimedia Ministry to audit two MCMC funds

PUTRAJAYA: The Ministry of Communications and Multimedia will conduct an audit on two Malaysian Communications and Multimedia Commission (MCMC) fund groups following enquiries regarding their management.
Its minister Gobind Singh Deo (pix) revealed the two funds as MCMC Fund, established under the Communications and Multimedia Act 1998, and the Universal Service Provision (USP) Fund, established under the Communications and Multimedia (Universal Service Provision) Regulations 2002.
According to him, the financial statement of MCMC Fund showed that it had RM800 million in its coffers as at Dec 31, 2016, while that of USP Fund showed an amount of RM8.5 billion in the same fiscal period.
"The audit on the two funds is to corroborate the amount in the accounts and enhance transparency in the utilisation of the funds," he told a media conference after attending a post-cabinet meeting at his ministry here today.
He said he would duly provide more information as to who would conduct the audit; when it would be done; and how long it would take. — Bernama