In the PAC We Trust

That 1MDB is a crumbling house of cards is a given.

Everyday a fresh new expose would be splashed all over the internet. Of course these revelations – of the cringing kind – would not even get a second’s mention on TV3 or a line in our traditional media, but every Ahmad, his Proton and his cat, would know about them. They would discuss them. And get angry because of them.

There is a feeling of mass betrayal permeating the city. But life goes on for some.

Yesterday, no less than Bank Negara’s Governor, Tan Sri Zeti revealed that Bank Negara had received a report from the Singapore Monetary Authority about an account connected to 1Malaysia Development Bhd (1MDB) in BSI Bank Ltd in the republic. She of course declined to reveal the nature of the report saying that the international community would not co-operate with us if we release such information that are extended to us.

Well, I wouldn’t want to argue with that save for saying we could always ask the provider of the information whether it would be alright if we release such information on the ground of public and national interest.

However, if we tie up that news with the recent allegation that certain banking documents have been found lacking in accuracy – I am being kind here – we could than make our own guess as to the nature of the report by the Singaporean Monetary Authority.

Over the past two days, the proceedings by the Public Account Committee are much anticipated. It is thus disappointing to note that 1MDB current CEO has chosen to attend a meeting instead of attending the PAC hearing.

Apparently he said he “looked forward” to defending 1MDB before the PAC. However his action in preferring to attend a meeting abroad instead of attending the PAC meeting to defend 1MDB is contrary to him “looking forward” to doing so. I mean, if someone had been looking forward to doing something, wouldn’t he or she want to do that thing as soon as possible rather than postponing it?

The urgency of the PAC hearing can never be overly stressed. Any postponement, no matter how short, of the PAC proceedings may give rise to events or acts which may hamper a full investigation by the PAC. Documents can be lost. Data can be erased. Witnesses can be influenced or could forget, conveniently or otherwise, their testimonies. Loss of memory, momentary or otherwise, may suddenly infect them. 

The PAC is probably our last collective hope for some kind of truth regarding everything that has been happening in 1MDB. Looking at the powers that the PAC has – as well as the composition of the PAC, where a mixture of Barisan Nasional MPs and Pakatan Rakyat MPs could be found – it is only to be expected that the common people have high expectation of the PAC grilling all those who are connected with 1MDB to find out the truth.

The PAC is a creature of the Parliament, being one of the Select Committees established pursuant to nothing less than the Standing Orders of the Dewan Rakyat. Rule 77 (1) of the Standing Orders expressly creates the PAC, whose functions, among others are to examine such accounts of public authorities and other bodies administering public funds as may be laid before the House and the prepare a report on such examination.

It is also given the power to “send for persons, papers and records, and to report from time to time”. Meaning it can summon and subpoena any person it deems necessary to appear before it for the purpose of such examination it is carrying out.

Standing Order 80A expressly gives the power to the Parliament to enquire into “any acts, matters or things as are made punishable as contempt under the Houses of Parliament (Privileges and Powers) Ordinance 1952, any acts or omission by any party.”

And in section 9 (a) of the aforesaid Ordinance, one of the act which constitutes contempt of the Parliament and is therefore punishable is “disobedience to any order for attendance or for production of papers, books, records, or documents made by the House or any committee duly authorized in that behalf, unless the attendance or production be excused as provided in section 19”.

Quite clearly, the PAC is equipped with the requisite powers to perform its functions and duties under the Standing Orders and the Constitution.

The PAC must remember that it may be the only viable hope to uncover the truth behind all that have been said about 1MDB.

All other investigative authorities have been infected with a sudden and complete paralysis when it comes to investigating 1MDB. In fact the police force, the MACC and Bank Negara have so far been in a coma of sorts. Quite why, we could only hazard a guess.

Being so, the PAC may be our last hope. The last hope of the people to know the truth. And probably even the last hope of 1MDB, its Board of Directors and its advisors and consultants to defend themselves.

Thus it comes as a great disappointment that the CEO’s absence has not been dealt with in a more forceful way. Nevertheless, we bow to the collective wisdom of the PAC in granting the CEO the postponement that the CEO sought.

We can just hope that the PAC would act in the best interest of the nation, without fear or favour. And I am sure YB Nurjazlan and the members of the PAC would be up to the task.