The Star today reported that Perak is a now a “debt-free” state (clap clap?) after transferring RM999.2mil worth of water assets to the Federal Government's Pengurusan Aset Air Bhd (PAAB). Brilliant move? The MB Datuk Seri Dr Zambry Abdul Kadir said that with the transfer, the state's water liability, which was valued at RM999mil has now been cancelled....but is it gone?
I dunno...I am no economist. Cancels Perak's liabilities but creates additional liabilities for others. Does it mean, it is now considered "gone"?