It is predicted that up to 30 percent of Malaysia's public projects' value was lost owing to mismanagement and corruption, revealed auditor-general Ambrin Buang.
Citing the study of Organisation for Economic Cooperation and Development (OECD) and World Bank, he said corruption in the infrastructure and extractives' sectors had contributed to the misallocation of public funds.
“It is difficult however to measure the exact cost. It has been estimated that between 10 to 30 percent of the investment in publicly-funded constructions projects may be lost through mismanagement and corruption and the estimation of 20 to 30 percent of projects' value lost through corruption,” he told an anti-fraud forum in Kuala Lumpur today.
As Ambrin was unable to attend the forum, his speech was read out by National Audit Department director of audit Roslan Abu Bakar.- Mkini
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