Will Glc Political Appointees Expose Financial Wrongdoings Asks Guan Eng

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Will political appointees leading government-linked companies (GLCs) under the new government expose any financial wrongdoings or investigate alleged irregularities revealed by the previous regime, former finance minister Lim Guan Eng has asked
Lim said this today in taking to task the statement made by his successor Tengku Zafrul Tengku Abdul Aziz that the appointment of politicians to statutory bodies and GLCs provided “check and balance” and ensured firms operated as per the government’s aspirations
The new minister also claimed that the Perikatan Nasional government only selected “fit and proper” politicians based on their abilities, expertise and experience, among others, for companies under the Minister of Finance Incorporated (MOF Inc)
Lim, however, said politicians could not be more experts compared to professionals
“Appointing politicians as directors and chairpersons of GLCs because there are ‘fit and proper’ [...] is absurd because politicians cannot be more proficient capable or knowledgeable than experts or professionals
“It is open knowledge that politicians have different priorities when they are in a GLC as compared to professional and expert directors who are focused on improving the performance of the company
“[...] further GLCs can be compelled to abide with government policy through ministerial directives or the presence of senior ministry civil servants sitting in as directors. There is no need to appoint politicians to ensure that government policy is complied with,” his statement read
The DAP Bagan MP claimed the previous Pakatan Harapan government had only appointed politicians to serve on statutory bodies that exercised regulatory powers, were not involved in business and only had limited contracts “to offer in scope and size”
On Tuesday, it was reported that Tengku Zafrul, in a parliamentary reply, stated that 15 politicians including MPs, state assemblypersons, senators and political party members had been appointed to MOF Inc companies while “only two” politicians were appointed to statutory bodies parked under his ministry
“Political appointments are expected to balance out corporate needs which are more profit-oriented while fulfilling the rakyat’s expectations,” he reportedly explained'
Tengku Zafrul Tengku Abdul AzizTo this, Lim asked: “While these MPs enjoy the perks and privileges of office in the GLC, how does the GLC benefit
“Will the politician director or chairperson of a GLC still unearth or probe the many financial wrongdoings exposed by the professional directors under Harapan for over 22 months
“Will the GLC be able to focus on improving the GLC’s corporate performance, to ensure that it is a trustworthy and reliable custodian of public funds involving tens of billions of ringgit [...] or will the GLC instead be used as a political tool?” said Lim
The PN government has come under scrutiny for the slew of political appointments made by the new regime since being installed in March after toppling the Harapan government
PN leaders have repeatedly claimed the move was to ensure GLCs and government bodies carry out Putrajaya's agenda
Most of the positions were filled by technocrats in the past
Last month, Tengku Zafrul claimed that the Securities Commission would assess the candidates shortlisted to the board of MOF Inc companies while others would be vetted by various agencies such as the MACC, the Insolvency Department and the Federal Court Chief Registrar's Office before they were appointed. - Mkini

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