PUTRAJAYA: The Government has set up a trust fund known as Tabung Harapan Malaysia (THM) for Malaysians to contribute towards alleviating the country's debt, says Tun Dr Mahathir Mohamad (pic).

The Prime Minister said that the fund was set up to accept contributions from the public who want to help ease the Government's financial situation.

“When people realised how bad the Government's finances are, many came forward, expressing their willingness to contribute.

“We welcome their act of patriotism and would like to thank them for their generosity,” he said on Wednesday after chairing the Cabinet meeting.

Finance Minister Lim Guan Eng said that Malaysians can make donations to THM, which will be managed “systematically and transparently” by the Finance Ministry.

“Due to the recent economic development and the growing concern among the rakyat on the country's current debt position, there are signs of awareness from the rakyat to lend their support to the Government,” said Lim in a statement on Wednesday.

“The rakyat voluntarily want to share their earnings with the Government to help ease the burden,” he said.

Only donations in ringgit will be accepted.

THM contributions can be deposited into Maybank account number 566010626452.

“On behalf of the Government, I would like to express my sincere appreciation and gratitude to all Malaysians for your support, concerns and willingness to help the Government in addressing the current economic situation,” said Lim.

Last week, Lim had said that the country's debt was now RM1 trillion, higher than the figure announced by the previous administration.