Finance Ministry: RM3.4b in unclaimed moneys being reclaimed as of May 31, 2023

KUALA LUMPUR, June 17 ― The amount of unclaimed moneys being reclaimed as of May 31 this year totals RM3.4 billion, according to the Finance Ministry .

“The balance as of March 31, 2023, was RM11.0 billion, and the amount was RM11.5 billion as of May 31, 2023,” it said in a written reply to a June 13 query made in the Dewan Rakyat. According to the MoF, the UM submissions registered for the first five months of this year totalled RM1.3 billion, an 18 per cent jump compared to the same period in 2022.

Meanwhile, it said that based on the Unclaimed Moneys Act 1965, on the lapse of 15 years from the date the moneys were credited to the Consolidated Trust Account, they would be transferred to the Consolidated Revenue Account and be used for the purpose of national operating and development expenditures based on the Budget tabled by the prime minister, in line with the Financial Procedure Act 1957.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Govt spent RM66.3bil on subsidies last year, says Finance MinistryKUALA LUMPUR: Some RM66.3bil was spent on subsidies in 2022, says the Finance Ministry.
Source: staronline - 🏆 4. / 75 Read more »

Dewan Rakyat passes 5 motions tabled by Finance Ministry | The Malaysian InsightDewan Rakyat passes 5 motions tabled by Finance Ministry
Source: msianinsight - 🏆 8. / 63 Read more »

Dewan Rakyat passes five motions tabled by Finance MinistryKUALA LUMPUR, June 15 — The Dewan Rakyat today passed five motions tabled by the Finance Ministry involving government funding and taxation. The motions passed unanimously were...
Source: malaymail - 🏆 1. / 86 Read more »