PUTRAJAYA: The government will channel at least RM30 million a year into a proposed trust fund which will be managed by Tunku Abdul Rahman Alumni Association (TAA) for the benefit of Tunku Abdul Rahman University College (TARUC) and its students, said Finance Minister Lim Guan Eng.
In a statement today, Lim said the Government Matching Grant Trust Fund would have as its members representatives of TAA, TARUC student representatives and a representative of the Finance Ministry.
"It is proposed that the trust fund be set up by TAA as soon as possible,” he said.
Lim said the trust fund would manage funds of RM30 million each year without the involvement or interference of the government or any political parties, including MCA and Pakatan Harapan.
"The RM30 million allocation will be paid beginning 2019 once the trust fund was set up, and another RM30 million will be paid next year," he said.
Lim said the government decided to implement this after certain quarters questioned its sincerity to channel at least RM30 million annually to TARUC if TARUC respects the principle that political parties should not own educational institutions.
Earlier, the government has stated that there should be no political elements in the ownership of TARUC if it is to continue receiving government matching grants of at least RM30 million a year.
This is in line with the principle that public allocations should not be given to business bodies, NGOs and educational institutions that are controlled by political parties.
Lim said the channelling of funds from the trust fund to TARUC can still happen provided MCA leaders give up powers of ownership, administration and posts as members of the boards of trustees and governors of TARUC. -- BERNAMA