In the spirit of check and balance within the government, prime minister Najib Razak has been told to vacate the Finance minister portfolio.
PAS Youth committee member Syahir Sulaiman said the practice of assuming the dual role of prime minister and Finance minister, started by former PM Dr Mahathir Mohamad, must be stopped.
He added that sixteen consecutive years of fiscal deficit in the country’s financial standing was telling enough that there was a critical need for check and balance in its financial management.
“The country needs ‘check and balance’ and not ‘cheque and balance’ culture at the highest decision making level. National fiscal policy is deeply rooted through careless administration where power is given to the same person holding both the posts of the chief executive officer and chief financial officer in the government,” said Syahir.
PAS Youth committee member Syahir Sulaiman said the practice of assuming the dual role of prime minister and Finance minister, started by former PM Dr Mahathir Mohamad, must be stopped.
He added that sixteen consecutive years of fiscal deficit in the country’s financial standing was telling enough that there was a critical need for check and balance in its financial management.
“The country needs ‘check and balance’ and not ‘cheque and balance’ culture at the highest decision making level. National fiscal policy is deeply rooted through careless administration where power is given to the same person holding both the posts of the chief executive officer and chief financial officer in the government,” said Syahir.
Najib retained himself as the Finance minister in the new cabinet line-up announced yesterday.
Syahir, who is PAS Youth’s Policy Studies director, said having a CEO to also play the role of CFO was against good administrative practice globally.
Under Najib, Malaysia’s debt escalated from RM274 billion to RM502 billion at the end of 2012.
International Monetary Fund has predicted that national debt would hit RM779 billion by 2017, with an annual average of RM55.4 billion beginning 2013.
Under Najib, Malaysia’s debt escalated from RM274 billion to RM502 billion at the end of 2012.
International Monetary Fund has predicted that national debt would hit RM779 billion by 2017, with an annual average of RM55.4 billion beginning 2013.
Harakahdaily
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