Selangor challenged to sell all its IPP shares

Selangor has been challenged to sell all its Independent Power Producers (IPP) shares under the Selangor State Development Corporation (PKNS) if it is serious about its call to reject IPP projects.

Rembau MP Khairy Jamaluddin, who made the call, said the state government still holds IPP shares of 25% through a subsidiary company of PKNS called Worldwide Holdings although Pakatan Rakyat had described the first generation of the IPP deals as “lopsided” and would not benefit the people.