PARLIAMENT | The Ministry of Economic Affairs (MEA) has brushed off criticism that it is usurping a large portion of power from the Ministry of Finance (MOF) by taking over the latter's agencies.
In a parliamentary written reply, the MEA said it had mainly only absorbed agencies from the Prime Minister's Department (PMD).
"The main agency absorbed into this new ministry is the Economic Planning Unit (EPU) which was previously under the PMD.
"Other agencies and departments under MEA include economic-related agencies once under ministers in the Prime Minister's Department," MEA told Wee Ka Siong (BN-Ayer Hitam) (above) today.
"As for the question of the ministry taking over many portfolios under the MOF and others, allow us to differentiate the company stake owned by the government and the management of the company and agency itself.
"There are 68 companies where the Minister of Finance Inc is the direct majority shareholder. However, not all companies are under the MOF," said MEA.
Citing examples, MEA said Institut Jantung Negara Holdings Sdn Bhd, which is under MOF Inc, is under the Health Ministry while the Malaysian Digital Economy Corporation (MDEC) came under the Communications and Multimedia Ministry.
"As such, there is no question of the MEA taking over the jurisdiction of other ministries as claimed by the honourable (Ayer Hitam)," said MEA.
Wee, who is also MCA deputy president, had asked Economic Affairs Minister Azmin Ali on how to resolve the issue of his ministry's overlapping power with the MOF.
"The ownership of shares and the management of operations of a company should be separated from the jurisdiction and monitoring function of the ministry so the administration and management of the companies are more effective and efficient," MEA added.
[More to follow] - Mkini
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