On political funding, Rashid said the ERC was currently reviewing a report prepared during former minister in the Prime Minister’s Department Datuk Paul Low’s tenure. “All political parties must declare their finances. There will be no more hiding. Everyone, including the government, has to own up.
“It’s alright to receive a lot of money, but we must know the source.”
Economist Prof Jomo Kwame Sundaram today called for the establishment of a political financing system in Malaysia to ensure that political parties no longer need to get money from corporations or in an illicit way. He said there should be an alternative source of financing with very strict rules for political parties to adhere.
Government is looking at the possibility of introducing a new act to monitor activities related to political funding. GIACC is in talks with political parties to prepare the Political Funding Bill before it is presented to the Cabinet and later tabled in Parliament, hopefully in June.
The Election Commission is reviewing the entire electoral process. One of the key areas being studied is political financing. A Political Financing Act is being drafted currently in the AG’s office, will be tabled in the cabinet soon.
Introduce a new Political Financing Control Act
Economist calls for establishment of political financing system