Larger budget to push MACC in the right direction
Akhbar Satar | 07 Dec 2018 00:30
Transparency International Malaysia (TI-M) has stated that the increased budget allocation of RM286.8 mil announced for the Malaysian Anti-Corruption Commission (MACC) in Budget 2019 is a wise move by the government as the "investment" will yield returns by 10-fold or more towards the federal coffers.
The allocation is an 18% increase and can be considered fair based on the country's current fiscal position.
Since corruption was so widespread in the previous government where billions of ringgit in taxpayers’ funds were lost due to corrupt malpractices, beefing up the MACC will help in the recovery of these funds and money which had been misappropriated by those who are corrupt.
Since June 2018, the MACC has seized and confiscated about RM2.5 bil from the investigations conducted.
According to the World Bank, a country loses between 2% and 5% of its gross domestic product (GDP) to corruption and with this higher allocation, we can perhaps keep the losses to a minimum.
The MACC and the National Audit Department are two federal agencies that should have enough funds to operate without hindrance as they are the guardians of the national coffers and can reduce corruption and leakages of funds.
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