KUALA LUMPUR: Persatuan Kesejahteraan Rakyat Malaysia (PKRM) has proposed a better structured and more effective insurance management to assist the government reduce its debt burden.
Its Chairman Datuk Ranjith Raja said in a statement that PKRM, through its investment company, would act as an insurance consultant to assist government-linked companies, government-linked investment companies, government agencies and the corporate sector through insurance schemes that could reduce costs.
“PKRM refers to the government’s seriousness in seeking and implementing cost-saving measures and hopefully through such practices, the government is seen as not wasting funds without first checking and being careful.
The giving out of tenders and obtaining of procurement should also be reviewed and not just meant for certain entities as alternatives could be sought,” he added.
According to him, the proposed initiative had been relayed to the Finance Ministry in forming a strategic alliance towards enabling the government to save costs.
“Our consultant will continue to support efforts aimed at reducing management costs, and forward the proposals, report and working paper to the prime minister for his perusal and advice,” he said.
The statement said that PKRM was guided by the principle of closely watching the state of services in correlation to the amount of money spent, and of making cost comparisons based on the insurance market. This could enable the government to evaluate and make choices in a more efficient and effective manner. For enquiries, advice and free briefing on insurance services, PKRM can be contacted at 03-8861 7557 or 03-2181 6665. –Bernama
