FEDERAL Territories Minister Khalid Samad says his position as Yayasan Wilayah Persekutuan (YWP) chairman is mandatory as stated in YWP's Memorandum and Articles of Association.
He said YWP was a company limited by guarantee without share capital.
“None of the members on the board of trustees are shareholders and profits do not benefit any parties, except the people in Federal Territories.
“YWP is the welfare arm of the ministry, established in 1986, to receive and manage funds to improve the quality of life of the poor through financial assistance and services related to welfare, health and education,” he said at the very first YWP's press conference on Tuesday (June 11) since its establishment.
Khalid said among the areas YWP focused on were education, economic, social, religion and technology, with an overall budget of RM12mil allocated this year, out of which RM2mil had been spent so far.
“Future plans include proposals for international seminar on urban poverty, allocation of RM1.5mil for Tahfiz and Chinese independent schools, micro-funding for petty traders and promote urban farming.
“The abolishment of YWP will affect the people as it is the only platform for the ministry to have welfare events in the absence of a state government.
“There are also 11 other similar foundations across the country, chaired by Menteri Besar and Chief Minister. The latest being Penang Future Foundation established in 2015,” he said.