AFTER nearly two years in power, the rakyat are still wondering where are the promises of transparency and accountability that the Madani government often speaks about.

Several major issues have arisen involving billions in public funds which cannot be simply brushed aside. The public has the right to know where their money is going to and who is responsible for every ringgit spent.

One of the hottest issues is the alleged fertiliser cartel within the National Farmers Organisation (NAFAS) which controls contracts worth RM1.8 bil.

How could such a large amount of public funds be handed over to a select group without strict oversight? What criteria were really used to award these contracts? Was this just a formal process to protect the interests of certain individuals?

Internal audit of GLCs

Another pressing matter involves Khazanah Nasional Bhd, the country’s sovereign wealth fund which is supposed to initiate investments that benefit the people.

Yet, Khazanah reported a loss of RM43.9 mil in its investment in FashionValet Sdn Bhd. How could such a large investment lose so much money? Was there any risk assessment done before investing public funds?

The public deserves to know if this decision was based on solid grounds or if it was a reckless action that ignored the people’s interests.

Recently, the Prime Minister announced an audit of over 2,000 government-linked companies (GLCs) to improve transparency. The question is whether the audit results be made public or will they only be circulated internally?

If the audit finds cases of mismanagement or misconduct, will the government take firm action or will it just issue warnings without any real impact?

This audit is only meaningful if the findings are disclosed and actions are taken against those responsible. Otherwise, it’s just a political gimmick to calm public anger without any genuine intention to make improvements.

Agong’s stake in U Mobile

The choice of U Mobile as the operator for the country’s second 5G network has also raised big questions.

Why was U Mobile which has a major foreign shareholder in Singapore’s Temasek Holdings chosen over more experienced local companies? Is this really the best decision for the country or is it just serving certain interests?

Even more concerning, one of U Mobile’s major shareholders is His Majesty Sultan Ibrahim who currently serves as the Yang di-Pertuan Agong (YFPA).

This raises questions about transparency and whether this decision was free from external influence and vested interests. The 5G infrastructure is a critical element and should be managed without any conflict of interest.

The Pakatan Harapan-Barisan Nasional (PH-BN) government must remember that they are not only administrators but also custodians of public trust.

Public funds should not be used as a tool to enrich a few. If there’s abuse of power or poor investment decisions, they need to take responsibility and act accordingly. This is the basic duty of a government that upholds principles of transparency and accountability.

The loss of public funds through poor investments, mismanagement or corruption is an issue that cannot be taken lightly. Lawmakers must act to ensure that every public dollar spent is closely monitored.

Transparency is key to restoring public trust in the government, hence financial reports and audits should be openly displayed to prevent manipulation.

The rakyat is more aware and vigilant than ever. They are tired of empty promises and political games.

If the government fails to manage public funds responsibly, how can they expect the public’s trust? Issues like the NAFAS cartel, Khazanah’s investment loss and the 5G contract controversy with U Mobile signal the failings of the Madani administration.

In the end, the unavoidable question is: Does the Madani government truly prioritise the people’s interests or is it just continuing the same old political practices that benefit only a few? – Nov 5, 2024

Dr Mahathir Mohd Rais is the Perikatan Nasional (PN) Federal Territories state secretary.

https://focusmalaysia.my/are-public-investments-and-contracts-under-madani-govt-truly-transparent/