Two funds under the control and supervision of the Communications and Multimedia Commission (MCMC) that have accummulated a total of RM9.3 billion will be audited, its minister announced today.
“The purpose of this audit is to verify the said accounts and to enhance transparency over the use of the said funds in the past,” Gobind Singh Deo said in a statement today. “The audit should highlight any shortcomings in the use of the funds, if any.”
The two funds including MCMC fund and Universal Service Provision (USP) fund stood at RM800 million and RM8.5 billion respectively as at Dec 31, 2016.
“MCMC Funds are used for the financial requirements of MCMC as stipulated under the Malaysian Communications and Multimedia Commission Act 1998 whereas USP Funds are used to bridge the digital divide, particularly by providing communications and internet access to underserved areas, including rural areas and underserved groups, mainly through infrastructure projects,” said Gobind.