PM Anwar defends GLICs' role in housing development initiatives

KUALA LUMPUR — Prime Minister Datuk Seri Anwar Ibrahim defended the deployment of government-linked investment company (GLIC) funds in housing development on Tuesday, positioning such initiatives as legitimate components of Malaysia's infrastructure strategy.

Anwar pointed to Petronas's role in developing Putrajaya as a precedent for state-owned enterprises participating in major development projects. He argued that such investments represent prudent use of public sector resources to advance national development objectives, particularly in expanding affordable housing stock.

The prime minister's comments come as Malaysia continues to grapple with housing affordability concerns in major urban centres. He emphasized that GLICs, given their financial capacity and long-term investment horizons, are well-positioned to support residential development that might otherwise face market constraints.

The government has prioritised housing initiatives as part of its broader economic agenda, with multiple agencies tasked with increasing affordable unit availability nationwide. Officials maintain that leveraging GLICs' capital allows for larger-scale projects while maintaining fiscal discipline.

Anwar's defence reflects the government's broader strategy of mobilising state-linked entities to achieve policy objectives, a practice that has been employed across Southeast Asia's developing economies.