Loss of public funds cannot continue
IDEAS (Institute for Democracy and Economic Affairs) commends the Malaysian government’s proactive approach in strengthening anti-corruption measures through the recently launched National Anti-corruption Strategies 2024-2028 (NACS). This initiative represents a significant stride forward in combating corruption and promoting transparency as part of the nation’s reform agenda.
Achieving the ambitious targets set by the NACS demands strong bipartisan political will, tremendous effort, support of the civil service, and a focused approach. It is imperative for political parties across the spectrum to set aside differences and collaborate wholeheartedly in the fight against corruption. To achieve these goals, distractions on issues unrelated to anti-corruption efforts, such as those concerning race, religion and royalty (the 3Rs), must be minimised.
More importantly, rebuilding trust in institutions is imperative to narrow the trust deficit between citizens and government. Enacting a Political Financing Act (PFA), which is included in the NACS, is one such priority. While steps have been taken to kick-start the process, this needs serious political will from the very top. It cannot be stressed enough how important it is to pass the PFA before the next election.
It is unfortunate, however, that separating the role of the Attorney General and Public Prosecutor is not included in the NACS, considering how the conflict of interest between the two is one of the main hindrances to fighting corruption. While Ideas understands that the government is currently pursuing a study into this matter, it is still unclear whether previously set target timelines will be adhered to, since it is not contained within this important document.
According to Ideas CEO Dr Tricia Yeoh, it is crucial that, in the next four years, all stakeholders prioritise the NACS. To do this effectively, we cannot be distracted by racial and religious issues, and all efforts must go into rebuilding trust in our institutions.
The Malaysian Anti-corruption Commission found that Malaysia suffered losses over a period of five years, between 2018 and 2023, totalling Rm277bil due to corruption. This abominable trend and loss of public funds cannot continue if we are serious about building Malaysia as an attractive investment destination, with strong fundamentals and robust mechanisms in place to combat corruption and mismanagement.
Ultimately, it is the Malaysian public that loses the most when corrupt practices go unpunished.
IDEAS Institute for Democracy and Economic Affairs
Ideas is a nonprofit research institute dedicated to promoting solutions to public policy challenges.